XML 66 R55.htm IDEA: XBRL DOCUMENT v3.24.3
NOTES PAYABLE (Details Narrative)
 1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
May 12, 2020
USD ($)
Jul. 30, 2021
USD ($)
Nov. 19, 2020
USD ($)
Jun. 23, 2020
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2024
USD ($)
shares
Sep. 30, 2024
CAD ($)
shares
Dec. 31, 2022
USD ($)
Dec. 31, 2023
USD ($)
Jun. 09, 2022
USD ($)
Mar. 03, 2022
USD ($)
Dec. 30, 2020
Oct. 17, 2018
USD ($)
Stock issued for debt obligation | shares           420,471 420,471            
Outstanding principal loan balance   $ 578,850                 $ 3,950,000    
Note payable long term         $ 2,645,623 $ 2,645,623     $ 3,035,341        
Interest rate description           one-month Euribor (3.90% as of December 31, 2023), and 6% plus one-month LIBOR (fully paid as of December 31, 2023), respectively one-month Euribor (3.90% as of December 31, 2023), and 6% plus one-month LIBOR (fully paid as of December 31, 2023), respectively            
Non cash interest expenses           $ 221,060   $ 200,000          
Five quarterly installments | shares           54,600 54,600            
Final repayment | shares           1,965,600 1,965,600            
July 29, 2024 [Member]                          
Interest rate description           The Note matures on July 31, 2029 and bears an annual interest rate of 2.58% plus the 3-month Euribor (3.47% as of September 30, 2024). Pursuant to the agreement, there is a six-month grace period for principal and interest repayment The Note matures on July 31, 2029 and bears an annual interest rate of 2.58% plus the 3-month Euribor (3.47% as of September 30, 2024). Pursuant to the agreement, there is a six-month grace period for principal and interest repayment            
Repayments of debt           $ 445,800              
Debt amount received from related party       $ 611,500                  
Notes payable long term         396,367 396,367     0        
Full and Final Settlement Agreement [Member]                          
Repayment of loan           334,350              
Outstanding principal loan balance         1,588,163 1,588,163     1,908,195        
Note payable long term         1,086,638 1,086,638     1,327,440        
Accrued interest expenses                 161,274        
Interest expenses         29,365 110,170              
Debt Exchange Agreement [Member]                          
Outstanding principal loan balance     $ 611,500   154,792 154,792     245,822        
Accrued interest expenses         6,057 6,057     12,379        
Repayments of debt           92,875              
Agreement description     The note matures on November 18, 2025 and bears an annual interest rate, based on a 360-day year, of 3% plus 0.6% plus 6-month Euribor when Euribor is positive (3.35% as of September 30, 2024). The principal is to be repaid in 18 quarterly installments of €27,778 ($30,333)                    
Notes payable long term         30,958 30,958     122,911        
July 30, 2021 Debt Agreement [Member]                          
Outstanding principal loan balance         281,338 281,338     261,918        
Note payable long term         134,929 134,929     227,065        
Accrued interest expenses         17,083 17,083     12,063        
Repayments of debt           91,267              
Agreement description   The note matures on August 5, 2026 and bears an annual interest rate that applies to 60% of the principal of the note that is based on a 365-day year, of 5.84% plus 3-month Euribor when Euribor is positive (3.47% as of September 30, 2024). Pursuant to the terms of the agreement, there is a nine-month grace period for principal repayment during which interest is accrued. The principal is to be repaid in 18 quarterly installments of €27,778 commencing three months from the end of the grace period                      
Covid Ninteen [Member]                          
Loan received from related party $ 366,900         1,123,700              
Debt principal balance         720,908 $ 720,908     897,165        
Covid Ninteen [Member] | United Kingdom Government [Member]                          
Interest rate description The loan will be repaid in 40 equal monthly installments beginning on July 29, 2022. As a condition to the loan, the Company was required to retain the same number of employees until October 31, 2020. As of December 31, 2023, the principal balance was $134,818. During the nine months ended September 30, 2024, the Company repaid €14,063 ($15,673) of the principal balance. The outstanding balance as of September 30, 2024 is €107,813 ($120,157) of which $99,260, is classified as “Notes payable - long term portion” on the accompanying condensed consolidated balance sheet         The loan has a ten-year maturity and bears interest at a rate of 2.5% per annum beginning 12-months after the initial disbursement, which was on July 10, 2020 The loan has a ten-year maturity and bears interest at a rate of 2.5% per annum beginning 12-months after the initial disbursement, which was on July 10, 2020            
Loan received from related party $ 366,900         $ 68,310              
Loan prinipal amount         51,345 $ 51,345     52,066        
June 9, 2022 Debt Agreement One [Member]                          
Outstanding principal loan balance                   $ 335,008      
Agreement description           the Company entered into an agreement with a third-party lender in the principal amount of €320,000 ($335,008), the “Note”. The Note matures on June 16, 2027 and bears an annual interest rate of 3.89% plus an additional rate of 0.60%, plus the 3-month Euribor (3.47% as of September 30, 2024). Pursuant to the agreement, there is a twelve-month grace period for principal repayment during which interest is accrued. The principal is to be repaid in 16 equal quarterly installments of €20,000 commencing on June 30, 2023. During the nine months ended September 30, 2024, the Company repaid €60,000 ($66,870) of the principal. As of September 30, 2024 and December 31, 2023, the Company has accrued interest of €4,673 ($5,208) and €11,043 ($12,215), respectively, and an outstanding balance of €200,000 ($222,900) and €260,000 ($287,612) of which $133,740 and $204,322, respectively, is classified as “Notes payable - long term portion” on the accompanying condensed consolidated balance sheets the Company entered into an agreement with a third-party lender in the principal amount of €320,000 ($335,008), the “Note”. The Note matures on June 16, 2027 and bears an annual interest rate of 3.89% plus an additional rate of 0.60%, plus the 3-month Euribor (3.47% as of September 30, 2024). Pursuant to the agreement, there is a twelve-month grace period for principal repayment during which interest is accrued. The principal is to be repaid in 16 equal quarterly installments of €20,000 commencing on June 30, 2023. During the nine months ended September 30, 2024, the Company repaid €60,000 ($66,870) of the principal. As of September 30, 2024 and December 31, 2023, the Company has accrued interest of €4,673 ($5,208) and €11,043 ($12,215), respectively, and an outstanding balance of €200,000 ($222,900) and €260,000 ($287,612) of which $133,740 and $204,322, respectively, is classified as “Notes payable - long term portion” on the accompanying condensed consolidated balance sheets            
Accured interest expense                 12,215        
Notes payable long term                 204,322        
Synthesis Facility Agreement [Member] | TFF [Member]                          
Outstanding principal loan balance                         $ 5,629,555
Accrued expenses                         524,094
Synthesis Facility Agreement [Member] | TFF [Member] | Principal Balance One [Member]                          
Debt instrument, accrue interest rate                       5.50%  
Debt intrument split, principal balance                         $ 2,316,000
Synthesis Facility Agreement [Member] | TFF [Member] | Principal balance 2 [Member]                          
Stated interest rate                         6.00%
Debt split, balance                         $ 4,000,000
National Bank of Greece SA [Member] | June 23, 2020 [Member]                          
Outstanding principal loan balance         131,118 $ 131,118     227,747        
Interest rate description       The note is interest bearing from the date of receipt and is payable every three months at an interest rate of 3.06% plus 3-month Euribor (3.47% as of September 30, 2024)                  
Repayments of debt           98,338              
Debt amount received from related party       $ 611,500                  
Notes payable long term         0 $ 0     97,606        
Senior Promissory Notes [Member] | Unaffiliated Third Party [Member]                          
Description of loan repayment           CAD $2 million cash received noted in (b) above, the Company accounted for its obligation to issue a variable number of the Company’s Common Shares as Share-settled debt obligation in accordance with ASC 480 measured at fair value or the settlement amount of $1,554,590 (CAD $2 million CAD $2 million cash received noted in (b) above, the Company accounted for its obligation to issue a variable number of the Company’s Common Shares as Share-settled debt obligation in accordance with ASC 480 measured at fair value or the settlement amount of $1,554,590 (CAD $2 million            
Cloudscreen Promissory Note [Member] | January 23, 2024 [Member]                          
Outstanding principal loan balance         $ 324,870 $ 324,870              
Repayments of debt           $ 10,830              
Agreement description           Note matures on March 25, 2025 and is interest free. This Note is being given in connection with the Closing of the Asset Purchase, Sale and Transfer Agreement dated as of October 9, 2023 and as amended from time to time pursuant to which the Company agreed to purchase from the third-party a drug repurposing Artificial Intelligence “AI” powered platform known as “Cloudscreen®” (refer to Note 2, section “Acquisition accounting”). The principal is to be repaid in 15 equal monthly installments of €20,000 commencing on January 25, 2024. During the 9 months ended September 30, 2024, the Company repaid €10,000 ($10,830) of the principal and recorded a foreign currency loss of $16,155. As of September 30, 2024, and December 31, 2023 the Company had an outstanding balance of $323,205 and $317,880 of which $0 and $0, respectively, is classified as “Notes payable - long term portion” on the accompanying condensed consolidated balance sheets Note matures on March 25, 2025 and is interest free. This Note is being given in connection with the Closing of the Asset Purchase, Sale and Transfer Agreement dated as of October 9, 2023 and as amended from time to time pursuant to which the Company agreed to purchase from the third-party a drug repurposing Artificial Intelligence “AI” powered platform known as “Cloudscreen®” (refer to Note 2, section “Acquisition accounting”). The principal is to be repaid in 15 equal monthly installments of €20,000 commencing on January 25, 2024. During the 9 months ended September 30, 2024, the Company repaid €10,000 ($10,830) of the principal and recorded a foreign currency loss of $16,155. As of September 30, 2024, and December 31, 2023 the Company had an outstanding balance of $323,205 and $317,880 of which $0 and $0, respectively, is classified as “Notes payable - long term portion” on the accompanying condensed consolidated balance sheets            
Notes payable long term                 317,880        
Cloudscreen Promissory Note [Member] | July 14, 2023 [Member]                          
Outstanding principal loan balance                 1,081,532        
Agreement description           the Company entered into an agreement with a third-party lender in the principal amount of €1,000,000 ($1,123,700), the “Note”. The Note matures on July 31, 2028 and bears an annual interest rate of 2.46% plus the 3-month Euribor (3.47% as of September 30, 2024). Pursuant to the agreement, there is a nine-month grace period for interest and principal repayment. The principal is to be repaid in 18 equal quarterly installments of €55,556 commencing on May 2, 2024. During the nine months ended September 30, 2024, the Company repaid €108,633 ($58,179) of the principal. As of September 30, 2024, and December 31, 2023, the Company has accrued interest of €7,845 ($8,743) and €19,820 ($21,925), respectively. As of September 30, 2024, and December 31, 2023 the Company an outstanding balance of €869,067 ($968,575) and €977,700 ($1,081,532), of which $720,908 and $897,165, respectively the Company entered into an agreement with a third-party lender in the principal amount of €1,000,000 ($1,123,700), the “Note”. The Note matures on July 31, 2028 and bears an annual interest rate of 2.46% plus the 3-month Euribor (3.47% as of September 30, 2024). Pursuant to the agreement, there is a nine-month grace period for interest and principal repayment. The principal is to be repaid in 18 equal quarterly installments of €55,556 commencing on May 2, 2024. During the nine months ended September 30, 2024, the Company repaid €108,633 ($58,179) of the principal. As of September 30, 2024, and December 31, 2023, the Company has accrued interest of €7,845 ($8,743) and €19,820 ($21,925), respectively. As of September 30, 2024, and December 31, 2023 the Company an outstanding balance of €869,067 ($968,575) and €977,700 ($1,081,532), of which $720,908 and $897,165, respectively            
Notes payable long term                 $ 897,165        
Distribution and Equity Acquisition Agreement [Member] | Marathon Global Inc [Member]                          
Cash received upon gross sales             $ 2,750,000            
Upfront cash received             $ 2,000,000            
Equity interest acquired description           a 33 1/3% equity interest or 5 million shares in Marathon as partial consideration for the Company’s distribution services a 33 1/3% equity interest or 5 million shares in Marathon as partial consideration for the Company’s distribution services            
Distribution and Equity Acquisition Agreement [Member] | Marathon Global Inc [Member] | Gross Sales One [Member]                          
Cash received upon gross sales             $ 2,750,000            
Distribution and Equity Acquisition Agreement [Member] | Marathon Global Inc [Member] | Gross Sales [Member]                          
Cash received upon gross sales             2,750,000            
Gross sales             $ 13,000,000