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Loans and Notes Payable (Tables)

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Schedule of loans and notes payable

Schedule of loans and notes payable
		June 30,				December 31,
		2022				2021
Various promissory notes and convertible notes		$	50,960			$	50,960
Novus Capital Group LLC Note (a)			283,612				378,854
Triple T Notes			329,613				353,330
National Buick GMC			16,977				19,440
Various Convertible Bridge Notes (b)			–				1,075,813
Blue Ridge Bank			410,200				410,200
Small Business Administration			324,267				318,175
JP Morgan Chase Bank			90,645				90,645
Various Promissory Notes (c)			2,308,232				3,416,379
Total Notes Payable		$	3,814,506			$	6,113,796
Loans and notes payable, current		$	962,405			$	1,511,447
Loans and notes payable, current attributed to variable interest entity			2,308,232				3,416,379
Loans and notes payable, long term		$	543,869			$	1,185,970

Schedule of maturities of loans and notes payable

Schedule of maturities of loans and notes payable
2022		$	2,787,944
2023			518,114
2024			72,278
2025			68,878
2026			111,979
Thereafter			255,313
Total		$	3,814,506

__________________ 

(a)

On September 5, 2017, the Company acquired patents in the amount of $4,931,380 in which the Company also agreed to assume the encumbering debt on asset in the amount of $334,775 due in December 2019 with no interest accruing until 2020 and a deferred tax liability of $1,043,398. As of April 1 2022, the lender agreed to extend the maturity of the note to April 1, 2023 with an initial payment of $52,448 and approximate monthly payment of $29,432 thereafter until the note is fully paid.

(b)

In 2021 and 2020 the Company entered into various convertible promissory notes as follows:

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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