XML 22 R12.htm IDEA: XBRL DOCUMENT
v3.22.2.2

NOTE 6 –LOANS PAYABLE | 6 Months Ended
--- | ---
Jun. 30, 2022
Debt Disclosure [Abstract] |
NOTE 6 –LOANS PAYABLE | NOTE 6 –LOANS PAYABLE Loans payable at June 30, 2022 and December 31, 2021 consisted of the following:
|  | June 30, |  | December 31, |  |  |  |
|  | 2022 |  | 2021 |  | Term |  | Interest rate
Bridge Loan |  | $ | — |  |  | $ | 222,222 |  |  | Note was issued on November 1, 2020 and due on January 30, 2022 |  |  | 18.0%
Martus |  |  | 96,185 |  |  |  | 100,634 |  |  | Note was issued on October 23, 2018 and due on January 3, 2023 |  |  | 5.0%
Swisspeers AG |  |  | — |  |  |  | 9,605 |  |  | Note was issued on April 8, 2019 and due on October 4, 2022 |  |  | 7.0%
Darlene Covid19 |  |  | 104,840 |  |  |  | 109,690 |  |  | Note was issued on April 1, 2020 and due on March 31, 2025 |  |  | 0.0%
Total |  |  | 201,025 |  |  |  | 442,151 |  |  |  |  |  |
Less: Unamortized debt discount |  |  | — |  |  |  | (7,406 | ) |  |  |  |  |
Total loans payable |  |  | 201,025 |  |  |  | 434,745 |  |  |  |  |  |
Less: Current portion of loans payable |  |  | (96,185 | ) |  |  | (315,450 | ) |  |  |  |  |
Long-term loans payable |  | $ | 104,840 |  |  | $ | 119,295 |  |  |  |  |  |
During the six months ended June 30, 2022 and 2021, the Company borrowed from third parties totaling $0 and $444,444, which includes original issue discount and financing costs of $0 and $44,444 and repaid the principal amount of $232,018 and $321,609, respectively. During the six months ended June 30, 2022 and 2021, the Company recorded interest expense of $18,724 and $172,701 and recognized amortization of discount, included in interest expense, of $7,407 and $63,666, respectively. In 2021, the Company recorded interest expense from convertible notes of $33,430 and recognized amortization of discount, included in interest expense, of $372,290. Loans payable to related parties at June 30, 2022 and December 31, 2021 consisted of the following:
|  | June 30, |  | December 31, |  |  |  |
|  | 2022 |  | 2021 |  | Term |  | Interest rate
49% of Shareholder of SwissLink |  | $ | 19,047 |  |  | $ | 19,929 |  |  | Note is due on demand |  |  | 0%
49% of Shareholder of SwissLink |  |  | 209,680 |  |  |  | 219,379 |  |  | Note is due on demand |  |  | 5%
Total |  |  | 228,727 |  |  |  | 239,308 |  |  |  |  |  |
Less: Current portion of loans payable |  |  | 228,727 |  |  |  | 239,308 |  |  |  |  |  |
Long-term loans payable |  | $ | — |  |  | $ | — |  |  |  |  |  |

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI https://asc.fasb.org/topic&trid=2208564 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1E -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration