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v3.24.2.u1

NOTES PAYABLE (Tables) | 6 Months Ended
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Jun. 30, 2024
NOTES PAYABLE |
Summary of roll forward of the third party Debt |
June 30, 2024 |  | Trade Facility |  |  | Third Party |  |  | COVID Loans |  |  | Total |
Beginning balance, December 31, 2023 |  | $ | 1,908,195 |  |  | $ | 2,511,148 |  |  | $ | 186,884 |  |  | $ | 4,606,227 |
Proceeds |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payments |  |  | (240,998 | ) |  |  | (293,229 | ) |  |  | (7,145 | ) |  |  | (541,372 | )
Conversion of debt |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Recapitalized upon debt modification |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Accretion of debt and debt discount |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Foreign currency translation |  |  | (60,548 | ) |  |  | (62,972 | ) |  |  | (9,129 | ) |  |  | (132,649 | )
Ending balance, June 30, 2024 |  |  | 1,606,649 |  |  |  | 2,154,947 |  |  |  | 170,610 |  |  |  | 3,932,206 |
Notes payable - long-term |  |  | (1,124,655 | ) |  |  | (1,125,866 | ) |  |  | (140,909 | ) |  |  | (2,391,430 | )
Notes payable - short-term |  | $ | 481,994 |  |  | $ | 1,029,081 |  |  | $ | 29,701 |  |  | $ | 1,540,776 |
December 31, 2023 |  | Trade Facility |  |  | Third Party |  |  | COVID Loans |  |  | Total |
Beginning balance, December 31, 2022 |  | $ | 3,305,532 |  |  | $ | 1,505,078 |  |  | $ | 207,377 |  |  | $ | 5,017,987 |
Proceeds |  |  | - |  |  |  | 1,082,231 |  |  |  | - |  |  |  | 1,082,231 |
Payments |  |  | (1,155,310 | ) |  |  | (415,557 | ) |  |  | (27,027 | ) |  |  | (1,597,894 | )
Oher additions |  |  | - |  |  |  | 317,880 |  |  |  | - |  |  |  | 317,880 |
Debt forgiveness |  |  | (306,637 | ) |  |  | - |  |  |  | - |  |  |  | (306,637 | )
Foreign currency translation |  |  | (64,610 | ) |  |  | 21,516 |  |  |  | 6,534 |  |  |  | 92,660 |
Ending balance, December 31, 2023 |  |  | 1,908,195 |  |  |  | 2,511,148 |  |  |  | 186,884 |  |  |  | 4,606,227 |
Notes payable – long-term |  |  | (1,327,440 | ) |  |  | (1,549,768 | ) |  |  | (159,344 | ) |  |  | (3,036,552 | )
Notes payable - short-term |  | $ | 580,755 |  |  | $ | 961,380 |  |  | $ | 27,540 |  |  | $ | 1,569,675 |
Summary of Outstanding Debt |
Our outstanding debt as of June 30, 2024 is repayable as follows:
|  | June 30, 2024 |
2025 |  | $ | 1,540,776 |
2026 |  |  | 1,657,806 |
2027 |  |  | 376,470 |
2028 |  |  | 267,722 |
2029 and thereafter |  |  | 89,432 |
Total debt |  |  | 3,932,206 |
Less: notes payable - current portion |  |  | (1,540,776 | )
Notes payable - long term portion |  | $ | 2,391,430 |

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