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LOANS PAYABLE (Tables)
 12 Months Ended
Dec. 31, 2023
Notes and other explanatory information [abstract]  
SUMMARY OF LOANS PAYABLE

As of December 31, 2023 and 2022, loans payable consisted of:

 

   2023   2022 
   As of December 31, 
   2023   2022 
Loans payable – current portion  $2,467,656   $334,391 
Loans payable – non-current portion   254,455    428,025 
 Total  $2,722,111   $762,416 
SCHEDULE OF LINE OF CREDIT FOR WORKING CAPITAL REQUIREMENT

Education Angels has obtained line of credit for working capital requirement in 2020, 2021 and 2022. The loans are secured by the guarantees of the Director and do not have covenant clauses. The outstanding principal as of December 31, 2023 and December 31, 2022 are as follows:

 

Loan Type  Start Date  Loan Amount   Tenure  Interest Rate   Outstanding as of December 31, 2023   Outstanding as of December 31, 2022 
IRD Loan  2020  $20,063   60 Months   3.25%  $10,247   $16,900 
Juke NWN765  2021  $19,679   36 Months   1.30%  $5,500   $12,255 
Qashqai NWN767  2021  $22,258   36 Months   1.20%  $6,990   $13,886 
Qashqai NWN766  2022  $22,258   36 Months   1.20%  $7,396   $14,475 

 

 

Mastermind Principles and Property Investors Network has obtained line of credit for the working capital requirement in 2020 and 2022. The loans are secured by the guarantees of the Director and do not have covenant clauses. The outstanding principal amount as of December 31, 2023 and December 31, 2022 are as follows –

 

Loan Type  Start
Date		  Loan
Amount		   Tenure  Interest
Rate		   Outstanding
as of
December 31,
2023		   Outstanding
as of
December 31,
2022		 
Lloyds CBIL (MPL)  2020  $239,540   60 Months   2.80%  $126,067   $167,678 
Funding Circle Loan (MPL)  2022  $380,804   48 Months   9.30%  $235,504   $305,787 
The Funding Circle (PIN)  2022  $116,054   48 Months   9.30%  $69,271   $93,193 
Lloyds Bounceback Loan  2022  $51,378   72 Months   2.50%  $30,764   $41,335 
Other loans  2021  $14,269   -   -   $14,269   $10,508 
 
Loan Type  Start
Date		  Loan
Amount		   Tenure  Interest
Rate		   Outstanding
as of
December 31,
2023		   Outstanding
as of
December 31,
2022		 
Bridge Loan (Alto Opportunity)  2023  $2,200,000   4 Months   0%  $2,177,329   $-