Schedule of notes payable |
Schedule of notes payable | |
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Interest Rate | |
September 30, 2023 | |
December 31, 2022 |
Notes Payable and Convertible Notes Payable | |
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In March 2014, the Company entered into a short-term loan agreement with an entity in the amount of $200,000. The note included warrants for 272,584 shares of common stock at $0.94 per share. The warrants expired unexercised on February 28, 2017. The loan and interest was paid off in February 2023 | |
| 8 | % | |
| — | | |
| 200,000 | |
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In December 2020, the Company entered into a 56- month loan with a company in the amount of $1,578,237. The loan requires payments of 3.75% through November 2022 and 4.00% through September 2025 of the previous month’s revenue. Note is due September 2025. Note is guaranteed by a related party see note 6. | |
| 17 | % | |
| 494,204 | | |
| 1,044,445 | |
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In April 2021, the Company entered into various six-month loans with individuals totaling in the amount of $168,000. The loans had an original maturity of October 2021 with principal and interest due at maturity with conversion price of $3.30 per share. The loans were extended to March 31, 2024. | |
| 7 | % | |
| 168,000 | | |
| 168,000 | |
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In May 2021, the Company entered into various six-month loans with individuals totaling in the amount of $60,000. The loans had an original maturity of October 2021 with principal and interest due at maturity with conversion price of $3.30 per share. The loans were extended to March 31, 2024. | |
| 7 | % | |
| 60,000 | | |
| 60,000 | |
In August 2022, the Company entered into a 56-months auto loan in the amount of $45,420. | |
| 2.35 | % | |
| 35,367 | | |
| 42,396 | |
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In December 2022, the Company entered into various eighteen-month loans with individuals totaling in the amount of $4,000,000. The notes included 100% warrant coverage. The loans mature in June 2024 with principal and interest due at maturity with conversion price of $1.00 per share. | |
| 12 | % | |
| 4,000,000 | | |
| 4,000,000 | |
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In February 2023, the Company entered into a twelve-month loan with an entity
in the amount of $2,000,000.
The convertible note included the issuance of 1,500,000 shares of
common stock . The loan matures in February 2024 with conversion price of $0.85
per share and is non-interest bearing | |
| — | | |
| 2,000,000 | | |
| — | |
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In May 2023, the Company entered into various eighteen-month loans with
individuals totaling in the amount of $800,000.
The notes included 50%
warrant coverage. The loans mature in November 2024 with principal and interest due at maturity with
conversion price of $1.00
per share. | |
| 12 | % | |
| 800,000 | | |
| — | |
In June 2023, the Company entered into various eighteen-month loans with individuals totaling in the amount of $350,000. The notes included 50% warrant coverage. The loans mature in December 2024 with principal and interest due at maturity with conversion price of $1.00 per share. | |
| 12 | % | |
| 350,000 | | |
| — | |
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In July 2023, the Company entered into a twelve-month loan with an individual in the amount of $750,000. The note included 100% warrant coverage. The loan matures in July 2024 with principal and interest due at maturity with conversion price of $1.00 per share. | |
| 12 | % | |
| 750,000 | | |
| — | |
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In July 2023, the Company entered into a twelve-month loan with an individual in the amount of $100,000. The note included 100% warrant coverage. The loan matures in January 2025 with principal and interest due at maturity with conversion price of $1.00 per share. | |
| 12 | % | |
| 100,000 | | |
| — | |
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In August 2023, the Company entered into a twelve-month loan
with an individual in the amount of $300,000.
The convertible note included the issuance of 150,000 shares of common stocks. The loan matures in August 2024 with principal and
interest due at maturity with conversion price of $0.85
per share and is non-interest bearing. | |
| | - | |
| 300,000 | | |
| — | |
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Total notes payable | |
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$ | 9,057,571 | | |
$ | 5,514,841 | |
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Less notes discount | |
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| (3,099,940 | ) | |
| (1,898,265 | ) |
Less current portion | |
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| (5,548,830 | ) | |
| (1,080,257 | ) |
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Long-term notes payable | |
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$ | 408,801 | | |
$ | 2,536,319 | |
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