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Amounts Due to Related Parties

3 Months Ended

Mar. 31, 2023

Note 7. Amounts Due to Related Parties

Amounts due to related parties as of March 31, 2023 consisted of the following:

Schedule of Due to Related Parties

	Bristol Capital, LLC		Bristol Investment Fund, Ltd.		Barlock 2019 Fund, LP		Total
Accrued interest and expenses	$	375,000	$	1,899,074	$	985,923	$	3,259,997
Current secured convertible debenture		—		2,496,850		2,496,850		4,993,700
Total	$	375,000	$	4,395,924	$	3,482,773	$	8,253,697

Amounts due to related parties as of December 31, 2022 consisted of the following:

	Bristol Capital, LLC		Bristol Investment Fund, Ltd.		Barlock 2019 Fund, LP		Total
Accrued interest and expenses	$	318,750	$	1,825,195	$	912,044	$	3,055,989
Current secured convertible debenture		—		2,496,850		2,496,850		4,993,700
Total	$	318,750	$	4,322,045	$	3,408,894	$	8,049,689

As of March 31, 2023, the secured convertible debentures with an aggregate principal amount of $4,993,700, comprised of a secured convertible debenture with a principal amount of $2,496,850 held by Bristol Investment Fund and a secured convertible debenture with a principal amount of $2,496,850 held by Barlock 2019 Fund, LP, were convertible into an aggregate of 28,535,429 shares of common stock (exclusive of any accrued and unpaid interest), using a conversion price of $0.175.