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DEBT OBLIGATIONS (Tables)
 6 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
SUMMARY OF DEBT OBLIGATIONS

Debt obligations is comprised of the following:

 

  

June 30,

2023

  

December 31,

2022

 
Economic injury disaster loan (EIDL)  $150,000   $150,000 
Convertible note payable, net of unamortized debt discount of $1,975,909   899,091    — 
Contingent consideration promissory note – Nobility Healthcare Division Acquisition   259,303    388,955 
Contingent consideration promissory note – Nobility Healthcare Division Acquisition   117,637    176,456 
Contingent consideration promissory note – Nobility Healthcare Division Acquisition   5,937    208,083 
Contingent consideration promissory note – Nobility Healthcare Division Acquisition   19,887    4,346 
Commercial Extension of Credit – Entertainment Segment   175,617    — 
Debt obligations   1,627,472    927,840 
Less: current maturities of debt obligations   1,468,857    485,373 
Debt obligations, long-term  $158,615   $442,467 
SCHEDULE OF MATURITY OF DEBT OBLIGATIONS

Debt obligations mature as follows as of June 30, 2023:

 

  

June 30, 2023

 
2023 (July 1, 2023 to December 31, 2023)  $374,915 
2024   3,083,972 
2025   3,412 
2026   3,542 
2027 and thereafter   137,541 
      
Total  $3,603,382 
SCHEDULE OF WARRANT TO PURCHASE COMMON STOCK GRANTED

  

   Terms at
April 5, 2023
(issuance date)		 
Volatility - range   106.0%
Risk-free rate   3.36%
Dividend   0%
Remaining contractual term   5.0 years 
Exercise price  $ 5.50 – 7.50 
Common stock issuable under the warrants   1,125,000 
SUMMARY OF CONVERTIBLE NOTE ACTIVITY

Following is a summary of activity relative to the Convertible Note for the six months ended June 30, 2023:

 

   Amount 
     
Balance, December 31, 2022  $— 
Convertible Note, at par   3,000,000 
Conversion of convertible note into common stock   (125,000)
Principal payments   — 
Unamortized debt discount   (1,975,909)
      
Balance, June 30, 2023  $899,091 

 

During the three and six months ended June 30, 2023 the Company amortized $925,455 of debt discount under interest expense, compared to $-0- for the three and six months ended June 30, 2022.

 

On June 2, 2023, the Purchasers elected to convert $125,000 principal, at the fixed price of $5.00 per share of common stock, 25,000 shares valued at $119,750. The loss on conversion of convertible note into common shares, of $93,386, was recorded during the period.