LOANS FROM NON-AFFILIATED PARTIES |
12 Months Ended |
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Dec. 31, 2022 | |
Loans From Non-affiliated Parties | |
LOANS FROM NON-AFFILIATED PARTIES | NOTE 13 – LOANS FROM NON-AFFILIATED PARTIES During the period from February 2022 through December 31, 2022, the Company received cash loans totaling $1,373,750 from World Reach Med, LLC. The loans were payable on demand and did not bear interest. World Reach Med, LLC was an affiliate of World Reach Health, LLC, which served as the exclusive distributor for Healthtech Wound Care, Inc. during 2022. See: Note 15: Subsequent Events regarding (a) the Company’s acquisition in January 2023 of a majority interest in World Reach Holdings, LLC, the owner of World Reach Health, LLC, and (b) the Company’s issuance to World Reach Med, LLC of a secured term note in the principal amount of $1,393,869 in satisfaction of the demand loans. |