Annual report pursuant to Section 13 and 15(d)

Loans Payable (Tables)

v3.22.1
Loans Payable (Tables)
 12 Months Ended
Dec. 31, 2021
Loans Payable [Abstract]  
Schedule of loans payable activity
    Principal
Balance at
January 1,
2021		     Forgiveness/
Adjusted to Other Income		     Principal
Repaid in
Cash		     New Issuances     Effect of
Foreign
Exchange
Rates		     Principal
Balance at
December 31,
2021		  
Kingsbrook   $ 150,000     $
-
     $ (150,000 )   $
-
     $
-
     $
-
  
Paycheck Protection Program     53,051       (11,670 )     (69 )    
-
      
-
       41,312  
Bounce Back Loan Scheme     68,245      
-
       (4,724 )    
-
       (2,352 )     61,169  
First Assurance Funding     655,593      
-
       (655,593 )     1,618,443      
-
       1,618,443  
Other loans payable     155,320      
-
      
-
      
-
      
-
       155,320  
Total loans payable     1,082,209     $ (11,670 )   $ (810,386 )   $ 1,618,443     $ (2,352 )     1,876,244  
Less: loans payable - current portion     968,446                                       1,828,079  
Loans payable - non-current portion   $ 113,763                                     $ 48,165  

 

    Principal
Balance at
January 1,
2020		     Forgiveness/
Adjusted to Other Income		     Principal
Repaid in
Cash		     New Issuances     Effect of
Foreign
Exchange
Rates		     Principal
Balance at
December 31,
2020		  
Kingsbrook   $
-
     $
-
     $
-
     $ 150,000     $
-
     $ 150,000  
Paycheck Protection Program    
-
      
-
      
-
       53,051      
-
       53,051  
Bounce Back Loan Scheme    
-
      
-
      
-
       68,245      
-
       68,245  
First Assurance Funding    
-
      
-
       (347,222 )     1,002,815      
-
       655,593  
Other loans payable     116,250      
-
      
-
       39,070      
     -
       155,320  
Total loans payable     116,250     $
-
     $ (347,222 )   $ 1,313,181     $
-
       1,082,209  
Less: loans payable - current portion     116,250                                       968,446  
Loans payable - non-current portion   $
-
                                     $ 113,763  

 
Schedule of loans payable of current portion
    Simple
Interest Rate		    

December 31,
2021

    

December 31,
2020

  
Loan payable issued September 18, 2019     8 %   $ 50,000     $ 50,000  
Loan payable issued October 29, 2019     8 %     69,250       69,250  
Loan payable issued February 5, 2020     8 %     3,500       3,500  
Loan payable issued March 31, 2020     8 %     4,537       4,537  
Loan payable issued June 8, 2020     8 %     5,000       5,000  
Loan payable issued June 8, 2020     8 %     5,000       5,000  
Kingsbrook loan issued June 12, 2020     8 %    
-
       150,000  
Loan payable issued July 15, 2020 *     8 %     4,695       4,695  
Loan payable issued October 13, 2020     8 %     13,337       13,337  
Loan payable issued December 10, 2020     8 %    
-
       655,594  
Current portion of PPP Loans (1)     1 %     41,312       7,533  
Current portion of Bounce Back Loans (1)     1 %     13,005      
-
  
Loan payable issued December 10, 2021     2 %     1,618,443      
-
  
            $ 1,828,079     $ 968,446  

 

* These loans are denominated in currencies other than USD.
   
(1) See Loans Payable, Non-Current Portion for a description of the PPP Loans and the Bounce Back Loans.

 
Schedule of non-current loans payable
    Simple Interest Rate     December 31,
2021		     December 31,
2020		     Maturity
Date
PPP loan payable issued May 5, 2020     1.0 %     41,312     $ 51,051     5/4/2022
PPP loan payable issued April 24, 2020     1.0 %    
-
       2,000     4/23/2022
BBLS loan payable issued June 10, 2020     2.5 %     61,170       68,245     6/10/2026
Subtotal             102,482       121,296      
Less: Current portions of BBLS/PPP loans, respectively (see above)             (54,317 )     (7,533 )    
Non-current portion           $ 48,165     $ 113,763      

 
Schedule of related party loans payable
   

Simple

Interest Rate

    

December 31,
2021

    

December 31,
2020

  
Loan payable issued September 18, 2019     8 %   $ 50,000     $ 50,000  
Loan payable issued October 8, 2019     0 %     4,000       4,000  
Loan payable issued October 20, 2019 *     8 %    
-
       81,463  
Loan payable issued October 28, 2019 *     8 %    
-
       7,088  
Loan payable issued October 29, 2019     8 %    
-
       40,000  
Loan payable issued October 29, 2019     8 %    
-
       10,000  
Loan payable issued November 27, 2019 *     8 %    
-
       20,515  
Loan payable issued December 11, 2019     8 %    
-
       10,342  
Loan payable issued January 14, 2020     8 %    
-
       4,726  
Loan payable issued January 20, 2020     8 %    
-
       137,382  
Loan payable issued January 30, 2020 *     8 %    
-
       7,088  
Loan payable issued February 5, 2020     8 %     3,500       3,500  
Loan payable issued February 28, 2020 *     8 %    
-
       19,261  
Loan payable issued March 31, 2020     8 %     4,537       4,537  
Loan payable issued April 2, 2020     8 %    
-
       1,871  
Loan payable issued April 2, 2020     8 %    
-
       1,564  
Loan payable issued April 13, 2020     8 %    
-
       12,875  
Loan payable issued April 13, 2020     8 %    
-
       12,905  
Loan payable issued April 27, 2020 *     8 %    
-
       7,962  
Loan payable issued May 19, 2020     8 %    
-
       2,152  
Loan payable issued May 30, 2020 *     8 %    
-
       7,962  
Loan payable issued May 30, 2020     8 %    
-
       7,890  
Loan payable issued June 17, 2020     8 %     485       485  
Loan payable issued July 15, 2020     8 %     5,503       5,503  
Loan payable issued August 25, 2020 *     8 %    
-
       9,162  
Loan payable issued October 8, 2020 *     8 %     8,708       8,796  
Loan payable issued October 15, 2020     8 %    
-
       10,094  
Loan payable issued October 14, 2020 *     8 %     4,544       4,544  
Loan payable issued October 1, 2020 *     8 %    
-
       10,253  
Loan payable issued November 4, 2020 *     8 %    
-
       9,162  
            $ 81,277     $ 513,082  

 

* These loans are denominated in currencies other than USD.