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CONVERTIBLE NOTES PAYABLE – RELATED PARTIES | 3 Months Ended
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Mar. 31, 2023
Convertible Notes Payable Related Parties |
CONVERTIBLE NOTES PAYABLE – RELATED PARTIES | 15. CONVERTIBLE NOTES PAYABLE – RELATED PARTIES The convertible notes payable, related party were issued as part of consideration for the acquisition of Forever 8. The discount was calculated based on the fair value of the instrument as of October 1, 2022. See Note 3. Acquisitions for further information. Principal due under the convertible note payable – related parties was as follows at March 31, 2023 and December 31, 2022: SCHEDULE OF CONVERTIBLE NOTE PAYABLE RELATED PARTIES
|  | March 31, 2022 |  |  | December 31, 2021 |
Notes payable, 10% |  |  | 27,383,700 |  |  |  | 27,500,000 |
Less: debt discount |  |  | (2,500,000 | ) |  |  | (2,750,000 | )
Notes payable, net |  | $ | 24,883,700 |  |  | $ | 24,750,000 |
Interest expense under convertible notes payable – related parties was $937,000 and $0, of which $250,000 and $0 was related to amortization of the debt discount, for the three months ended March 31, 2023 and 2022, respectively.

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