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Loans Payable (Tables)
 3 Months Ended
Mar. 31, 2024
Schedule of Consolidated Notes Payable
The Company’s consolidated notes payable consisted of the following carrying values at:
 
    
Loans Payable
  
    
March 31, 2024
     
December 31, 2023
  
March 2023 Note
    $ 15,270,792      $ 14,858,816  
December 2023 Note
      6,037,747        6,000,000  
Emergency Injury Disaster Loan
      150,000        150,000  
Vendor note payable
      484,009        484,009  
AFCO Insurance note payable
      314,621        468,751  
Pignatelli note
      500,000        500,000  
37N Note
      804,997        804,997  
Finance Liability (NOTE 15)
      4,179,270        4,112,332  
  
 
 
     
 
 
  
Total Loans payable
      27,741,436        27,378,905  
Less: Unamortized deferred lender fee
      (79,343 )       (106,488
)
Less: Unamortized deferred discount
      (2,940,799 )       (3,955,449
)
 
  
 
 
     
 
 
  
Total Loans payable, net
      24,721,294        23,316,968  
Less: Current portion of loans payable
      (16,306,076 )       (15,413,894 ) 
  
 
 
     
 
 
  
Loans payable—long term
    $ 8,415,218      $ 7,903,074  
  
 
 
     
 
 
  
Pignatelli
On March 6, 2023, Odyssey issued a new Unsecured Convertible Promissory Note in the principal amount of $500,000 to Mr. Pignatelli that bears interest at the rate of 10.0% per annum convertible into common stock of Odyssey at a conversion price of $3.78 per share. On July 15, 2021, this debt was transferred from a previous creditor, MINOSA, to Mr. Pignatelli in the principal amount of $404,634 and convertible at a conversion price of $4.35 per share, pursuant to which the outstanding aggregate obligation with accrued interest was $630,231.