XML 28 R16.htm IDEA: XBRL DOCUMENT v3.22.2.2
Long-term Debt
 6 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
Long-term Debt

Note 10. Long-term Debt

 

To assist in funding the manufacture of the Company’s Remediation Processing Centers, between 2015 and 2017, the Company entered into two agreements which include terms for the purchase of participation rights for the sale of future revenue of the funded RPCs. The RPCs are estimated to enter scaled up operations in 2022 and make estimated payments. The Company estimates future payments based on revenue projections for the RPCs. Due to delays in scaled up operations (see Note 1 Long Lived Assets) the effective interest rate of these agreements increased from approximately 33% to 36%.

 

Long-term debt consists of the following:

          
   June 30,   December 31, 
   2022   2021 
Principal  $2,196,233   $2,196,233 
Accrued interest   3,049,304    4,205,144 
Debt discount   (219,380)   (226,823)
Total long term debt  $5,026,157   $6,174,554 
           
Long term debt, current  $8,565   $3,256 
Long term debt  $5,017,592   $6,171,298 

 

The following table sets forth the estimated payment schedule of long-term debt as of June 30, 2022:

     
2022  $3,525 
2023   10,795 
2024   14,078 
2025   18,359 
2026   23,943 
Thereafter   2,125,533 
Total  $2,196,233