XML 41 R31.htm IDEA: XBRL DOCUMENT v3.22.2.2
DEBT (Tables)
 6 Months Ended
Jun. 30, 2022
DEBT  
Summary of Debt

June 30, 2022

 

Loan

Facility

 

 

Trade

Facility

 

 

Third

Party

 

 

COVID

Loans

 

 

Total

 

Beginning balance

 

$1,299,784

 

 

$6,207,010

 

 

$10,077,977

 

 

$234,117

 

 

$17,818,888

 

Proceeds

 

 

-

 

 

 

-

 

 

 

335,008

 

 

 

-

 

 

 

335,008

 

Payments

 

 

(157,663 )

 

 

(207,035 )

 

 

(2,085,132 )

 

 

 

 

 

 

(2,449,830 )

Conversion of debt

 

 

(1,190,000 )

 

 

-

 

 

 

 

 

 

 

-

 

 

 

(1,190,000 )

Recapitalized upon debt modification

 

 

-

 

 

 

(129,002 )

 

 

(1,003,200 )

 

 

-

 

 

 

(1,132,202 )

Accretion of debt

 

 

77,551

 

 

 

-

 

 

 

 

 

 

 

-

 

 

 

77,751

 

Foreign currency translation

 

 

45,676

 

 

 

(105,056 )

 

 

(80,863 )

 

 

(19,109 )

 

 

(159,352 )

Subtotal

 

 

75,348

 

 

 

5,765,917

 

 

 

7,243,790

 

 

 

215,008

 

 

 

13,300,063

 

Notes payable - long-term

 

 

-

 

 

 

-

 

 

 

(992,289 )

 

 

(187,337 )

 

 

(1,179,626 )

Notes payable - short-term

 

$75,348

 

 

$5,765,917

 

 

$6,251,501

 

 

$27,671

 

 

$12,120,437

 

December 31, 2021

 

Loan

Facility

 

 

Trade

Facility

 

 

Third

Party

 

 

COVID

Loans

 

 

Total

 

Beginning balance

 

$3,302,100

 

 

$6,446,000

 

 

$12,631,284

 

 

$435,210

 

 

$22,814,594

 

Proceeds

 

 

-

 

 

 

-

 

 

 

565,900

 

 

 

-

 

 

 

565,900

 

Payments

 

 

(141,475 )

 

 

(57,835 )

 

 

(62,878 )

 

 

(3,233 )

 

 

(265,421 )

Conversion of debt

 

 

(1,606,500 )

 

 

-

 

 

 

(3,010,000 )

 

 

-

 

 

 

(4,616,500 )

Recapitalized upon debt modification

 

 

(86,670 )

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(86,670 )

Debt forgiveness

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(169,770 )

 

 

(169,770 )

Foreign currency translation

 

 

(167,671 )

 

 

(181,155 )

 

 

(46,329 )

 

 

(28,090 )

 

 

(423,245 )

Subtotal

 

 

1,299,784

 

 

 

6,207,010

 

 

 

10,077,977

 

 

 

234,117

 

 

 

17,818,888

 

Notes payable - long-term

 

 

-

 

 

 

(2,450,000 )

 

 

(9,854,906 )

 

 

(51,478 )

 

 

(12,356,384 )

Notes payable - short-term

 

$1,299,784

 

 

$3,757,010

 

 

$223,071

 

 

$182,639

 

 

$5,462,504

 
Summary of Outstanding Debt

Our outstanding debt as of June 30, 2022 is repayable as follows:

 

 

June 30, 2022

 

2022

 

$3,140,672

 

2023

 

 

10,264,053

 

2024

 

 

338,399

 

2025

 

 

342,531

 

2026 and thereafter

 

 

340,992

 

Total debt

 

 

14,426,647

 

Less: fair value adjustments to assumed debt obligations

 

 

(1,126,584 )

Less: notes payable - current portion

 

 

(12,120,437 )

Notes payable - long term portion

 

$1,179,626