XML 155 R37.htm IDEA: XBRL DOCUMENT v3.24.3
NOTES PAYABLE (Tables)
 9 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2023
NOTES PAYABLE    
Summary of roll forward of the third party Debt

September 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

 

 

-

 

 

 

445,800

 

 

 

-

 

 

 

445,800

 

Payments

 

 

(334,350 )

 

 

(481,254 )

 

 

(19,073 )

 

 

(834,677 )

Conversion of debt

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Recapitalized upon debt modification

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Accretion of debt and debt discount

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Foreign currency translation

 

 

14,318

 

 

 

32,613

 

 

 

3,691

 

 

 

50,622

 

Ending balance, September 30, 2024

 

 

1,588,163

 

 

 

2,508,307

 

 

 

171,502

 

 

 

4,267,972

 

Notes payable - long-term

 

 

(1,086,638 )

 

 

(1,416,802 )

 

 

142,183 )

 

 

(2,645,623 )

Notes payable - short-term

 

$501,525

 

 

$1,091,505

 

 

$29,319

 

 

 

1,622,349

 

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 )

 

 

(158,133 )

 

 

(3,035,341 )

Notes payable - short-term

 

$580,755

 

 

$961,380

 

 

$28,751

 

 

$1,570,886

 

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 )

 

 

(158,133 )

 

 

(3,035,341 )

Notes payable - short-term

 

$580,755

 

 

$961,380

 

 

$28,751

 

 

$1,570,886

 

   

December 31, 2022

 

Loan

Facility

 

 

Trade

Facility

 

 

Third

Party

 

 

COVID

Loans

 

 

Total

 

Beginning balance

 

$1,299,784

 

 

$6,207,010

 

 

$10,077,977

 

 

$641,291

 

 

$18,226,062

 

Proceeds

 

 

-

 

 

 

-

 

 

 

492,336

 

 

 

-

 

 

 

492,336

 

Payments

 

 

(240,705 )

 

 

(2,795,786 )

 

 

(9,494,823 )

 

 

(10,029 )

 

 

(12,541,343 )

Conversion of debt

 

 

(1,190,000 )

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(1,190,000 )

Recapitalized upon debt modification

 

 

(81,923 )

 

 

(221,060 )

 

 

(781,752 )

 

 

-

 

 

 

(1,084,735 )

Accretion of debt and debt discount

 

 

81,910

 

 

 

216,182

 

 

 

781,752

 

 

 

-

 

 

 

1,079,844

 

Prior year reclassification from Line of Credit

 

 

-

 

 

 

-

 

 

 

407,174

 

 

 

(407,174)

 

 

-

 

Foreign currency translation

 

 

130,934

 

 

 

(100,814 )

 

 

22,414

 

 

 

(16,711 )

 

 

35,823

 

Subtotal

 

 

-

 

 

 

3,305,532

 

 

 

1,505,078

 

 

 

207,377

 

 

 

5,017,987

 

Notes payable - long-term

 

 

-

 

 

 

(1,604,700 )

 

 

(1,076,698 )

 

 

(178,172 )

 

 

(2,859,570 )

Notes payable - short-term

 

$-

 

 

$1,700,832

 

 

$428,380

 

 

$29,205

 

 

$2,158,417

 
Summary of Outstanding Debt

Our outstanding debt as of September 30, 2024 is repayable as follows:

 

 

September 30,

2024

 

2025

 

$1,622,349

 

2026

 

 

1,717,738

 

2027

 

 

420,633

 

2028

 

 

353,961

 

2029 and thereafter

 

 

153,291

 

Total debt

 

 

4,267,972

 

Less: notes payable - current portion

 

 

(1,622,349 )

Notes payable - long term portion

 

$2,645,623

 

 

 

December 31, 2023

 

2024

 

$1,570,886

 

2025

 

 

2,032,967

 

2026

 

 

457,784

 

2027

 

 

312,314

 

2028 and thereafter

 

 

232,276

 

Total debt

 

 

4,606,227

 

Less: notes payable - current portion

 

 

(1,570,886 )

Notes payable - long term portion

 

$3,035,341