SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2023

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 13 – SUBSEQUENT EVENTS

On May 1, 2023 the Company entered into an agreement to amend certain terms in its redeemable promissory notes with Streeterville Capital, LLC which were previously issued on October 7, 2022 and January 24, 2023. The amendment to the notes makes the accrued interest incurred from these notes part of the principal balance of the note. The new principal balances for the 2022 and 2023 notes are $3,003,993 and $2,903,030, respectively. In addition, in consideration of lender's grant of the extension of Redemption date, which is initially 6 months from the Purchase Price Date to 11 months from the Purchase Price Date, its fees incurred in preparing the amendment and other accommodations, an extension fee of $65,000 and $35,000 for the 2022 and 2023 notes, respectively, are to be paid.

Amortization of the amended notes begin on September 7, 2023 for the 2022 note and September 24, 2023 for the 2023 note.