Debt (Tables)

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Schedule of Debt

At June 30, 2022 (unaudited) and December 31, 2021, debt consisted of the following:

	June 30, 2022			December 31, 2021
Notes payable- third parties	$	3,145,339		$	4,667,819
Loan payable – related party		2,877,000			2,127,000
Debentures		8,222,240			8,222,240
Total debt		14,244,579			15,017,059
Less current portion of debt		(14,244,579	)		(15,017,059	)
Total debt, net of current portion	$	-		$	-

Schedule of Notes Payable Third Parties

At June 30, 2022 (unaudited) and December 31, 2021, notes payable with third parties consisted of the following:

Notes Payable – Third Parties

	June 30, 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. Settled on September 30, 2021 for $500,000 pursuant to a payment plan as discussed below.	$	-		$	250,000
Notes payable to CommerceNet and Jay Tenenbaum in the original principal amount of $500,000 (the “Tegal Notes”).		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.		1,394,082			1,450,000
Notes payable under the PPP loans issued on April 20, 2020 through May 1, 2020.		-			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 bore 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.		1,459,700			2,152,962
		3,145,339			4,667,819
Less current portion		(3,145,339	)		(4,667,819	)
Notes payable - third parties, net of current portion	$	-		$	-

Schedule of Notes Payable Related Parties

At June 30, 2022 (unaudited) and December 31, 2021, loan payable - related party consisted of the following:

	June 30, 2022			December 31, 2021
Loan payable to Christopher Diamantis	$	2,877,000		$	2,127,000
Less current portion of loan payable, related party		(2,877,000	)		(2,127,000	)
Total loan payable, related party, net of current portion	$	—		$	—

Schedule of Debentures

The carrying amount of all outstanding debentures with institutional investors as of June 30, 2022 (unaudited) and December 31, 2021 was as follows:

	June 30, 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	$	-		$	-