XML 40 R31.htm IDEA: XBRL DOCUMENT v3.22.1
NOTES PAYABLE AND LOAN FACILITY (Tables)
 12 Months Ended
Dec. 31, 2021
Short-Term Debt [Line Items]  
SCHEDULE OF LONG-TERM DEBT

The following table summarizes shareholder, convertible and contingently convertible notes payable:

 

    1    2 
   December 31, 
   2021   2020 
         
Shareholder, convertible and contingently convertible notes  $1,241,895   $951,895 
Accrued interest   147,009    94,164 
           
Total shareholder notes and accrued interest   1,388,904    1,046,059 
           
Less: current maturities   (1,388,904)   (1,046,059)
           
Total long-term debt  $-   $- 
SCHEDULE OF RELATED PARTY DEBT

The following table summarizes related party debt:

 SCHEDULE OF RELATED PARTY DEBT

    1    2 
   December 31, 
   2021   2020 
         
Rotman Family convertible notes  $1,967,737   $1,832,707 
Rotman Family nonconvertible notes   1,953,509    1,555,500 
Accrued interest   384,238    189,394 
Debt discount   (27,083)   (4,667)
           
Long term debt, current   4,278,401    3,572,934 
Less: current maturities   (1,487,000)   (1,537,000)
           
Long term debt  $2,791,401   $2,035,934 
SCHEDULE OF MATURITIES OF NOTES PAYABLE

Approximate maturities for the succeeding years are as follows:

 

      
2022  $1,487,000 
2023   1,105,000 
2024   226,000 
2025   36,000 
2026   38,000 
Thereafter   1,386,401 
      
Long term debt  $4,278,401 
Rotman Family Convertible Notes [Member]  
Short-Term Debt [Line Items]  
SCHEDULE OF NOTES PAYABLE

The following table summarizes the Rotman Family Convertible Notes:

 

            Carrying Amount      
       Principal    December 31,    December 31, 
   Issue Date    Amount    2021    2020 
Steven Rotman 8.00% note due July 2024  07/18/19  $105,000   $126,000   $117,600 
Steven Rotman 8.00% note due July 2024  07/18/19  $105,000   $126,000   $117,600 
Gregory Rotman 8.00% note due July 2024  07/18/19   55,207    66,264    61,847 
Steven Rotman 5.00% note due July 2027  07/18/19   1,102,500    1,238,016    1,182,890 
Bernard Rotman 5.00% note due July 2023  07/18/19   420,000    471,625    450,625 
Steven Rotman 5.00% note due December 2021  12/19/19   100,000    110,208    105,207 
Steven Rotman 5.00% note due February 2022  02/02/20   50,000    54,583    52,083 
Gregory Rotman 5.00% note due June 2023  06/03/21   130,030    133,822    - 
Jamie Rotman 5.00% note due August 2022  08/17/21   5,000    5,094    - 
                   
      $1,967,737    2,205,612    1,970,252 
                   
Debt Discount           (27,083)   (4,667)
                   
           $2,178,529   $1,965,585 
Rotman Family Non-convertible Notes [Member]  
Short-Term Debt [Line Items]  
SCHEDULE OF NOTES PAYABLE

The following table summarizes the Rotman Family Nonconvertible Notes:

  

          Carrying Amount 
      Principal   December 31,   December 31, 
   Issue Date  Amount   2021   2020 
Steven Rotman 5.00% note due July 2027  07/18/19  $367,500   $412,672   $394,297 
Steven Rotman 5.00% note due July 2027  07/18/19  $367,500   $412,672   $394,297 
Bernard Rotman 5.00% note due July 2023  07/18/19   140,000    157,208    150,208 
Steven Rotman 5.00% note due December 2022  12/22/20   1,048,000    1,115,243    1,062,844 
Steven Rotman 5.00% note due March 2023  03/31/21   395,000    411,652    - 
Steven Rotman 5.00% note due June 2023  06/02/21   3,009    3,097    - 
                   
      $1,953,509   $2,099,872   $1,607,349