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RELATED PARTY TRANSACTIONS
 3 Months Ended
Mar. 31, 2024
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 19. RELATED PARTY TRANSACTIONS

 

Transactions with Managing Member of Nobility Healthcare

 

The Company accrued reimbursable expenses payable to Nobility, LLC totaling $576,690 and $265,241 for the three months ended March 31, 2024 and 2023 and management fees in accordance with the operating agreement of $12,379 and $32,181 for the three months ended March 31, 2024 and 2023.

 

Transactions with Related Party of TicketSmarter

 

On September 22, 2023, a trust, the beneficiaries of which are TicketSmarter’s Chief Executive Officer and his spouse, made a loan in the amount of $2,325,000 to TicketSmarter to support TicketSmarter’s operations. On October 2, 2023 an additional $375,000 was advanced to Ticketsmarter. The transaction was recorded as a related party note payable (the “TicketSmarter Related Party Note”). The TicketSmarter Related Party Note bears interest of 13.25% per annum with repayment beginning January 2, 2024. As of March 31 2024, the entire TicketSmarter Related Party note is $2,700,000, is classified as current, with an accrued interest balance of $187,346. The use of proceeds of the TicketSmarter Related Party Note was to resolve numerous outstanding payables at a discounted rate, the discount received is recognized as a gain on extinguishment of liabilities on the statement of operations. Additionally, these negotiations relieved TicketSmarter of numerous future obligations following fiscal year 2023.