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v3.22.2.2

DEBT (Tables) | 9 Months Ended
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Sep. 30, 2022
DEBT |
Summary of Debt |
September 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 |  |  | - |  |  |  | - |  |  |  | 479,723 |  |  |  | - |  |  |  | 479,723 |
Payments |  |  | (190,622 | ) |  |  | (147,830 | ) |  |  | (2,132,165 | ) |  |  | (4,586 | ) |  |  | (2,475,203 | )
Conversion of debt |  |  | (1,190,000 | ) |  |  | - |  |  |  |  |  |  |  | - |  |  |  | (1,190,000 | )
Recapitalized upon debt modification |  |  | (785 | ) |  |  | (51,190 | ) |  |  | (781,752 | ) |  |  | - |  |  |  | (833,727 | )
Accretion of debt and debt discount |  |  | 0 |  |  |  | - |  |  |  | (12,223 | ) |  |  | - |  |  |  | (12,223 | )
Foreign currency translation |  |  | 110,335 |  |  |  | (299,325 | ) |  |  | (146,201 | ) |  |  | (34,299 | ) |  |  | (369,490 | )
Subtotal |  |  | 28,712 |  |  |  | 5,708,665 |  |  |  | 7,485,359 |  |  |  | 195,232 |  |  |  | 13,417,968 |
Notes payable - long-term |  |  | - |  |  |  | - |  |  |  | (855,345 | ) |  |  | (170,704 | ) |  |  | (1,026,049 | )
Notes payable - short-term |  | $ | 28,712 |  |  | $ | 5,708,665 |  |  | $ | 6,630,014 |  |  | $ | 24,528 |  |  | $ | 12,391,919 |
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 September 30, 2022 is repayable as follows:
|  | September 30, 2022 |
2022 |  | $ | 2,065,142 |
2023 |  |  | 11,244,009 |
2024 |  |  | 316,759 |
2025 |  |  | 320,620 |
2026 and thereafter |  |  | 317,388 |
Total debt |  |  | 14,263,918 |
Less: fair value adjustments to assumed debt obligations |  |  | (845,950 | )
Less: notes payable - current portion |  |  | (12,391,919 | )
Notes payable - long term portion |  | $ | 1,026,049 |

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