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Long-term Debt

9 Months Ended

Sep. 30, 2022

Note 13. 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 2023 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 28% to 31%.

Long-term debt consists of the following:

Schedule Of Long-Term Debt
	2022			2021
Principal	$	2,196,233		$	2,196,233
Accrued interest		2,997,529			4,205,144
Debt discount		(215,659	)		(226,823	)
Total long term debt	$	4,978,103		$	6,174,554

Long term debt, current	$	9,363		$	3,256
Long term debt	$	4,968,740		$	6,171,298

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

Schedule of long-term debt maturities
2022	$	950
2023		11,598
2024		15,002
2025		19,409
2026		25,114
Thereafter		2,124,160
Total	$	2,196,233