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NOTES PAYABLE (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
NOTES PAYABLE |
Schedule of Third Party Debt |
March 31, 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 |  |  | (242,798 | ) |  |  | (112,369 | ) |  |  | (6,629 | ) |  |  | (361,795 | )
Conversion of debt |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Recapitalized upon debt modification |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Accretion of debt and debt discount |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Foreign currency translation |  |  | (46,748 | ) |  |  | (47,881 | ) |  |  | (4,152 | ) |  |  | (98,780 | )
Ending balance, March 31, 2024 |  |  | 1,618,650 |  |  |  | 2,350,899 |  |  |  | 176,104 |  |  |  | 4,145,652 |
Notes payable - long-term |  |  | (1,213,988 | ) |  |  | (1,338,445 | ) |  |  | (147,927 | ) |  |  | (2,700,349 | )
Notes payable - short-term |  | $ | 404,663 |  |  | $ | 1,012,464 |  |  | $ | 28,177 |  |  | $ | 1,445,303 |
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 March 31, 2024 is repayable as follows:
|  | March 31, 2024 |
2025 |  | $ | 1,445,303 |
2026 |  |  | 1,841,732 |
2027 |  |  | 415,491 |
2028 |  |  | 283,211 |
2029 and thereafter |  |  | 159,915 |
Total debt |  |  | 4,145,652 |
Less: notes payable - current portion |  |  | (1,445,303 | )
Notes payable - long term portion |  | $ | 2,700,349 |

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