Notes Payable (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Schedule of Notes Payable

The Company and its subsidiaries are party to a number of loans with third parties and affiliates. At March 31, 2022 (unaudited) and December 31, 2021, notes payable consisted of the following:

Notes Payable – Third Parties

	March 31, 2022			December 31, 2021
Settlement amount/loan payable to TCA Global Credit Master Fund, L.P. (“TCA”) in the original principal amount of $3 million at 16% interest (the “TCA Debenture”). Settled on September 30, 2021 for $500,000 pursuant to a payment plan as discussed below.	$	100,000		$	250,000
Notes payable to CommerceNet and Jay Tenenbaum in the original principal amount of $500,000, bearing interest at 6% per annum (the “Tegal Notes”). Principal and interest payments due annually from July 12, 2015 through July 12, 2017.		291,557			291,557
Note payable to Anthony O’Killough dated September 27, 2019 in the original principal amount of $1.9 million. Interest is due only upon event of default. Issued net of $0.3 million of debt discount and $0.1 million of financing fees. Payment due in installments through November 2020.		1,450,000			1,450,000
Notes payable under the PPP loans issued on April 20, 2020 through May 1, 2020 bearing interest at a rate of 1% per annum.		23,325			400,800
Notes payable dated January 31, 2021 and February 16, 2021 in the original aggregate amount of $245,000 due six months from the date of issuance. The notes bear interest at 10% for the period outstanding. Under the terms of the notes, the holder received 100 shares of InnovaQor’s Series B Preferred Stock held by the Company (see Note 13).		-			122,500
Notes payable to Western Healthcare, LLC dated August 10, 2021, in the aggregate principal amount of $2.4 million, bearing interest at 18% per annum, payable in monthly installments aggregating $0.2 million, due August 30, 2022.		1,534,700			2,152,962
		3,399,582			4,667,819
Less current portion		(3,399,582	)		(4,667,819	)
Notes payable - third parties, net of current portion	$	-		$	-

Schedule of Notes Payable Related Parties

At March 31, 2022 (unaudited) and December 31, 2021, note payable - related party consisted of the following:

	March 31, 2022			December 31, 2021
Loan payable to Christopher Diamantis	$	2,877,000		$	2,127,000
Less current portion of note payable, related party		(2,877,000	)		(2,127,000	)
Total note payable, related party, net of current portion	$	—		$	—

Schedule of Debentures

The carrying amount of all outstanding debentures with institutional investors as of March 31, 2022 (unaudited) and December 31, 2021 was as follows:

	March 31, 2022			December 31, 2021
Debentures	$	8,222,240		$	8,222,240
Less current portion		(8,222,240	)		(8,222,240	)
Debentures, net of current portion	$	-		$	-