SHORT-TERM AND LONG-TERM DEBT

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

SHORT-TERM AND LONG-TERM DEBT

NOTE 3 SHORT-TERM AND LONG-TERM DEBT

The short-term debt balances were as follows:

	December 31, 2021		December 31, 2020
Unsecured loan from a shareholder in April 2018 for $100,000 at a 50% interest rate and six month maturity, was due October 2018. principal and interest convertible at $0.35 per share into common stock at the option of the holder until repaid.	$	-	$	100,000
Loan from Hua Nan Bank in 2020 at 2.42% interest rate per annum and due December 2021, 2019 loan at 2.61% interest paid, February - April 2020		-		71,238
Debenture agreements with various shareholders at 10% interest rate beginning in February 2019 - December 2019, one year maturity, were due February 2020 – December 2020, principal and interest convertible at $0.35 per share into common stock at the option of the holder until repaid. All principal and accrued interest converted during 2021 except one remaining $50,000 debenture and accrued interest of $12,079.		50,000		346,250
Debenture agreements with various shareholders at 10%-20% interest rate beginning in January 2020 - February 2021, one year maturity, due January 2021 – February 2022, principal and interest convertible at $0.35 per share into common stock at the option of the holder until repaid. All principal and accrued interest converted during 2021.		-		313,500
Short-term three month loan at 0% interest from a shareholder in June 2020, was due September 2020.		-		35,000
Balance at end of period	$	50,000	$	865,988

The Long-term debt balances were as follows:

Loans from Shanghai Bank with interest rates 1.00% - 1.5% per annum due February 2024 – November 2026		469,087		-
Current Portion of Long-term debt		(120,284	)	-
Balance at end of period	$	338,803		-