XML 94 R80.htm IDEA: XBRL DOCUMENT v3.24.2.u1
NOTES PAYABLE (Details Narrative)
1 Months Ended 6 Months Ended 12 Months Ended
Mar. 03, 2022
USD ($)
May 12, 2020
USD ($)
Dec. 21, 2022
USD ($)
Feb. 28, 2022
USD ($)
shares
Feb. 23, 2022
USD ($)
Jul. 30, 2021
USD ($)
Nov. 19, 2020
USD ($)
Jun. 23, 2020
USD ($)
Jun. 30, 2024
CAD ($)
shares
Jun. 30, 2024
USD ($)
shares
Dec. 31, 2023
CAD ($)
shares
Dec. 31, 2023
USD ($)
shares
Dec. 31, 2022
USD ($)
shares
Aug. 29, 2022
Dec. 31, 2021
USD ($)
Aug. 04, 2021
USD ($)
shares
Dec. 30, 2020
Oct. 17, 2018
USD ($)
Nov. 16, 2015
USD ($)
Gain on extinguishment of debt                       $ 306,637 $ 306,637            
Stock issued for debt obligation | shares                 420,471 420,471 420,471 420,471              
Repayment of loan                       $ 0 1,065,000            
Outstanding principal loan balance $ 3,950,000         $ 578,850                          
Note payable long term                   $ 2,391,430   $ 3,035,341 2,859,570            
Accrued interest expenses                         4,878            
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 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                   $ 200,000   $ 200,000              
Repayment of installment                   $ 500,000   $ 500,000              
Repayments of debt                         191,100            
Capitalized fees 221,060                                    
Debt instruments final payament                         2,593,363            
Loan principal balance                         $ 1,898,895            
Common stock share issued | shares                   17,834,023   15,982,472 10,605,412            
Final repayment | shares                 1,965,600 1,965,600 1,965,600 1,965,600              
Full and Final Settlement Agreement [Member]                                      
Payment of loan     $ 1,100,000                                
Gain on extinguishment of debt     306,637                                
Repayment of loan     $ 55,310             $ 240,998                  
Outstanding principal loan balance                   1,606,650   $ 1,908,195              
Note payable long term                   1,124,655   1,327,440              
Accrued interest expenses $ 38,393                 80,805   161,274              
Debt Exchange Agreement [Member]                                      
Outstanding principal loan balance             $ 611,500     0   0 $ 0            
Accrued interest expenses             $ 8,069     11,132   12,379 12,853            
Repayments of debt                   59,506   122,911 118,867            
Agreement description             bears an annual interest rate, based on a 360-day year, of 3% plus 0.6% plus 6-month Euribor when Euribor is positive (3.76% as of June 30, 2024). The principal is to be repaid in 18 quarterly installments                        
Accrued expenses                       0              
Notes payable long term                   59,506   122,911 237,733            
Common stock share issued | shares                               12,852      
Gain on settlement of debt upon shares issuance                               $ 292,383      
Common stock shares issuable upon listing on nasdaq | shares                               9,520      
Settlement of debt, shares issuable upon listing on nasdaq                               $ 1,190,000      
Settlement of debt                               $ 1,606,500      
Gain from extinguishment of debt       $ 216,580                              
Principal amount of existing loan                   178,517   245,822 $ 356,600            
Upon issuance of common stock | shares       9,520                              
Maturity of note             Nov. 18, 2025                        
Restricted shares | shares                         40,000            
July 30, 2021 Debt Agreement [Member]                                      
Outstanding principal loan balance                   281,338   350,555 $ 565,900            
Note payable long term                   159,676   227,065 477,637            
Accrued interest expenses                   16,061   12,063 3,100            
Repayments of debt                   58,094   87,396 83,428            
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 (3.78% as of June 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                          
Notes payable long term                   247,186   247,186 336,788            
Covid Ninteen [Member]                                      
Outstanding principal loan balance                   134,818   134,818 150,441            
Loan received from related party   $ 366,900               100,416                  
Debt principal balance                   8,368   122,172              
Covid Ninteen [Member] | United Kingdom Government [Member]                                      
Loan prinipal amount                   48,437   52,066 56,936            
June 9, 2022 Debt Agreement One [Member]                                      
Outstanding principal loan balance                   235,642   287,612 342,336   $ 4,000,000        
Repayments of debt                   $ 42,844   $ 66,372              
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 (3.76% as of June 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 17 equal quarterly installments of €18,824 commencing on June 30, 2023 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 (3.76% as of June 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 17 equal quarterly installments of €18,824 commencing on June 30, 2023 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 (3.96% as of December 31, 2023). Pursuant to the agreement, there is a 12-month grace period for principal repayment during which interest is accrued. The principal is to be repaid in 17 equal quarterly installments of €18,824 commencing on June 30, 2023 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 (3.96% as of December 31, 2023). Pursuant to the agreement, there is a 12-month grace period for principal repayment during which interest is accrued. The principal is to be repaid in 17 equal quarterly installments of €18,824 commencing on June 30, 2023              
Accured interest expense                   $ 11,540   $ 12,215 8,379            
Notes payable long term                   154,994   204,322 281,924            
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                   157,515   227,747 346,111            
Interest rate description               The note is interest bearing from the date of receipt and is payable every three (3) months at an interest rate of 3.06% plus 3-month Euribor (3.78% as of June 30, 2024)                      
Repayments of debt                   63,006   130,141              
Debt amount received from related party               $ 611,500                      
Notes payable long term                   $ 0   97,606 220,253            
Maturity date               60 months                      
Panagiotis Drakopoulos [Member] | Loan Agreement [Member]                                      
Outstanding principal loan balance                       $ 0 8,558            
Accrued expenses                         7,271            
Short term debt borrowing capacity                                     $ 42,832
Senior Promissory Notes [Member]                                      
Gain on extinguishment of debt         $ 787,544                            
Aggregate amount of senior promissory notes         9,000,000               7,000,000            
Fee payment         506,087                            
New debt amount fair value         $ 7,706,369                            
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) 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                  
Repayments of debt                   $ 10,830                  
Agreement description                 The Promissory 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 The Promissory 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                  
Notes payable long term                   $ 312,900   $ 317,880              
Gain from extinguishment of debt                   5,850                  
Cloudscreen Promissory Note [Member] | August 29, 2022 [Member]                                      
Outstanding principal loan balance                       $ 0 0            
Accrued interest expenses                         5,041            
Agreement description                     the Company entered into a promissory note for the principal amount of $166,667. The Company received $150,000 in cash and recorded $16,667 as an original issue discount upon issuance. The promissory note matured on the earlier of (a) December 27, 2022, or (b) the date the Company completes a debt or equity financing of at least $1,000,000 the Company entered into a promissory note for the principal amount of $166,667. The Company received $150,000 in cash and recorded $16,667 as an original issue discount upon issuance. The promissory note matured on the earlier of (a) December 27, 2022, or (b) the date the Company completes a debt or equity financing of at least $1,000,000              
Interest rate                           12.00%          
Cloudscreen Promissory Note [Member] | July 14, 2023 [Member]                                      
Outstanding principal loan balance                   $ 989,036   $ 1,081,532 0            
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 (3.78% as of June 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 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 (3.78% as of June 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 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 (3.96% as of December 31, 2023). 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 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 (3.96% as of December 31, 2023). 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              
Notes payable long term                   $ 751,690   $ 897,165 $ 0            
Distribution and Equity Acquisition Agreement [Member] | Marathon Global Inc [Member]                                      
Cash received upon gross sales                 $ 2,750,000   $ 2,750,000                
Upfront cash received                 $ 2,000,000   $ 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 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   $ 2,750,000                
Distribution and Equity Acquisition Agreement [Member] | Marathon Global Inc [Member] | Gross Sales [Member]                                      
Cash received upon gross sales                 2,750,000   2,750,000                
Gross sales                 $ 13,000,000   $ 13,000,000