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NOTE 8 - LOANS PAYABLE | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
NOTE 8 - LOANS PAYABLE | NOTE 8 - LOANS PAYABLE Loans payable at March 31, 2025 and December 31, 2024 consisted of the following:
|  | March 31, |  | December 31, |  |  |  | Interest
|  | 2025 |  | 2024 |  | Term |  | rate
Martus |  | $ | 103,738 |  |  | $ | 103,738 |  |  | Note was issued on October 23, 2018 and due on January 2, 2026 |  |  | 5.0 | %
Darlene Covid19 |  |  | 70,580 |  |  |  | 80,019 |  |  | Note was issued on April 1, 2020 and due on March 31, 2026 |  |  | 0.0 | %
Promissory note payable |  |  | 217,391 |  |  |  | 217,391 |  |  | Note was issued June 11, 2024 and due on June 11, 2025 |  |  | 2.0 | %
Promissory note payable - acquisition of QXTEL |  |  | 850,000 |  |  |  | 1,275,000 |  |  | Note was issued April 1, 2024 and due on June 30, 2025 |  |  | 4.9 | %
Promissory note payable |  |  | 271,739 |  |  |  | 271,739 |  |  | Note was issued July 16, 2024 and due on July 16, 2025 |  |  | 2.0 | %
Promissory note payable |  |  | 271,739 |  |  |  | 271,739 |  |  | Note was issued July 31, 2024 and due on July 31, 2025 |  |  | 2.0 | %
Promissory note payable |  |  | 190,217 |  |  |  | 190,217 |  |  | Note was issued September 23, 2024 and due on September 23, 2025 |  |  | 2.0 | %
Promissory note payable |  |  | 108,696 |  |  |  | 108,696 |  |  | Note was issued October 4, 2024 and due on September 23, 2025 |  |  | 2.0 | %
Promissory note payable |  |  | 543,478 |  |  |  | — |  |  | Note was issued January 15, 2025 and due on January 15, 2026 |  |  | 2.0 | %
Promissory note payable - acquisition of QXTEL |  |  | 985,000 |  |  |  | — |  |  | Note was issued February 3, 2025 and due on September 30, 2025 |  |  | 4.9 | %
Total |  |  | 3,612,578 |  |  |  | 2,518,539 |  |  |  |  |  |  |
Less: Unamortized debt discount |  |  | (75,271 | ) |  |  | (62,898 | ) |  |  |  |  |  |
Total loans payable |  |  | 3,537,307 |  |  |  | 2,455,641 |  |  |  |  |  |  |
Less: Current portion of loans payable |  |  | (3,537,307 | ) |  |  | (2,455,641 | ) |  |  |  |  |  |
Long-term loans payable |  | $ | — |  |  | $ | — |  |  |  |  |  |  |
Loans payable - related parties at March 31, 2025 and December 31, 2024 consisted of the following:
|  | March 31, |  | December 31, |  |  |  | Interest
|  | 2025 |  | 2024 |  | Term |  | rate
49% of Shareholder of SwissLink |  | $ | 21,606 |  |  | $ | 21,606 |  |  | Note is due on demand |  |  | 0.0 | %
49% of Shareholder of SwissLink |  |  | 193,142 |  |  |  | 219,894 |  |  | Note is due on demand |  |  | 5.0 | %
Minority Shareholder of QXTEL |  |  | 333,911 |  |  |  | 478,985 |  |  | Note is due on October 1, 2025 |  |  | 4.9 | %
Total |  |  | 548,659 |  |  |  | 720,485 |  |  |  |  |  |  |
Less: Current portion of loans payable - related parties |  |  | 548,659 |  |  |  | 720,485 |  |  |  |  |  |  |
Long-term loans payable - related parties |  | $ | — |  |  | $ | — |  |  |  |  |  |  |
During the three months ended March 31, 2025 and 2024, the Company borrowed from third parties totaling $543,478 and $0, which includes original issue discount and financing costs of $48,478 and $0 and repaid the principal amount of $449,438 and $8,885, respectively. During the three months ended March 31, 2025, the Company issued a note payable of $1,000,000 for the earn out payment related to the April 1, 2024 acquisition of a subsidiary. During the three months ended March 31, 2025 and 2024, the Company recorded interest expense of $99,675 and $9,053 and recognized amortization of discount, included in interest expense, of $36,105 and $3,750, respectively.

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