SCHEDULE OF NOTES PAYABLE ACTIVITY |
A
summary of the notes payable activity during the years ended December 31, 2021 and 2020 is presented below:
SCHEDULE OF NOTES PAYABLE ACTIVITY
| |
Related
Party Notes | | |
Convertible
Notes | | |
Other
Notes | | |
Debt
Discount | | |
Total | |
Outstanding,
December 31, 2019 | |
$ | 1,285,000 | | |
$ | 6,768,326 | | |
$ | 340,000 | | |
$ | (1,247,420 | ) | |
$ | 7,145,906 | |
Issuances | |
| 353,762 | | |
| 3,936,548 | | |
| - | | |
| - | | |
| 4,290,310 | |
Third-party
purchases | |
| (287,041 | ) | |
| 287,041 | | |
| - | | |
| - | | |
| - | |
Exchanges
for equity | |
| - | | |
| (813,393 | ) | |
| - | | |
| 253,654 | | |
| (559,739 | ) |
Exchanged
for equity pursuant to Chapter 11 Plan | |
| (998,139 | ) | |
| (3,592,395 | ) | |
| (340,000 | ) | |
| - | | |
| (4,930,534 | ) |
Secured
and Unsecured convertible notes payable exchanged pursuant to Chapter 11 Plan, net | |
| (353,582 | ) | |
| 3,050,975 | | |
| - | | |
| - | | |
| 2,697,393 | |
Recognition
of debt discount | |
| - | | |
| - | | |
| - | | |
| (8,534,245 | ) | |
| (8,534,245 | ) |
Accretion
of interest expense | |
| - | | |
| - | | |
| - | | |
| 2,886,036 | | |
| 2,886,036 | |
Amortization
of debt discount | |
| - | | |
| - | | |
| - | | |
| 1,275,106 | | |
| 1,275,106 | |
Outstanding,
December 31, 2020 | |
| - | | |
| 9,637,102 | | |
| - | | |
| (5,366,869 | ) | |
| 4,270,233 | |
Issuances | |
| - | | |
| 715,303 | | |
| 250,000 | | |
| (182,805 | ) | |
| 782,498 | |
Exchanges
for equity | |
| - | | |
| (10,352,405 | ) | |
| - | | |
| 4,416,135 | | |
| (5,936,270 | ) |
Amortization
of debt discount | |
| - | | |
| - | | |
| | | |
| 1,133,539 | | |
| 1,133,539 | |
Outstanding,
December 31, 2021 | |
$ | - | | |
$ | - | | |
$ | 250,000 | | |
$ | - | | |
$ | 250,000 | |
|
SCHEDULE OF FUTURE MINIMUM PAYMENTS OF NOTES PAYABLE |
Future
minimum payments under the above notes payable following the year ended December 31, 2021 are as follows:
SCHEDULE
OF FUTURE MINIMUM PAYMENTS OF NOTES PAYABLE
| |
| | |
2022 | |
$ | 58,970 | |
2023 | |
| 59,562 | |
2024 | |
| 60,161 | |
Thereafter | |
| 71,307 | |
Total
future minimum payments | |
| 250,000 | |
Less:
discount | |
| - | |
Less:payable | |
| 250,000 | |
Less:
current | |
| (58,970 | ) |
Notes
payable, non-current | |
$ | 191,030 | |
|