Debt (Tables)
|
3 Months Ended |
Mar. 31, 2023 |
|---|
| Debt Disclosure [Abstract] |
|
| Schedule of Debt |
At
March 31, 2023 (unaudited) and December 31, 2022, debt consisted of the following:
Schedule of Debt
| |
|
March 31, 2023
|
|
|
December 31, 2022
|
|
| |
|
|
|
|
|
|
| Notes payable- third parties |
|
$ |
1,780,010 |
|
|
$ |
2,917,390 |
|
| Loan payable – related party |
|
|
3,003,000 |
|
|
|
2,995,000 |
|
| Debentures |
|
|
8,322,240 |
|
|
|
8,622,240 |
|
| Total debt |
|
|
13,105,250 |
|
|
|
14,534,630 |
|
| Less current portion of debt |
|
|
(13,105,250 |
) |
|
|
(14,534,630 |
) |
| Total debt, net of current portion |
|
$ |
- |
|
|
$ |
- |
|
|
| Schedule of Notes Payable Third Parties |
At
March 31, 2023 (unaudited) and December 31, 2022, notes payable with third parties consisted of the following:
Notes
Payable – Third Parties
Schedule of Notes Payable Third Parties
| |
|
March 31, 2023
|
|
|
December 31, 2022
|
|
| |
|
|
|
|
|
|
|
|
$ |
291,557 |
|
|
$ |
291,557 |
|
| Notes payable to CommerceNet and Jay Tenenbaum in the original principal amount of $500,000 (the “Tegal Notes”). |
|
$ |
291,557 |
|
|
$ |
291,557 |
|
| |
|
|
|
|
|
|
|
|
| Note payable to Anthony O’Killough dated September 27, 2019 in the original principal amount of $1.9 million. Issued net of $0.4 million of debt discount and financing fees. Payment due in installments through November 2020. |
|
|
- |
|
|
|
1,137,380 |
|
| |
|
|
|
|
|
|
|
|
| Notes payable to Western Healthcare, LLC dated August 10, 2021, in the aggregate principal amount of $2.4 million, bearing interest at 18% per annum, payable in monthly installments aggregating $0.2 million, due August 30, 2022. |
|
|
1,488,453 |
|
|
|
1,488,453 |
|
| |
|
|
|
|
|
|
|
|
|
Note
payable
|
|
|
1,780,010 |
|
|
|
2,917,390 |
|
| Less current portion |
|
|
(1,780,010 |
) |
|
|
(2,917,390 |
) |
| Notes payable - third parties, net of current portion |
|
$ |
- |
|
|
$ |
- |
|
|
| Schedule of Loan Payable Related Parties |
At
March 31, 2023 (unaudited) and December 31, 2022, loan payable - related party consisted of the following:
Schedule of Loan Payable Related Parties
| |
|
March 31, 2023
|
|
|
December 31, 2022
|
|
| |
|
|
|
|
|
|
| Loan payable to Christopher Diamantis |
|
$ |
3,003,000 |
|
|
$ |
2,995,000 |
|
| Less current portion of loan payable, related party |
|
|
(3,003,000 |
) |
|
|
(2,995,000 |
) |
| Total loan payable, related party, net of current portion |
|
$ |
- |
|
|
$ |
- |
|
|
| Schedule of Debentures |
The
carrying amount of all outstanding debentures with institutional investors as of March 31, 2023 (unaudited) and December 31, 2022 was
as follows:
Schedule of Debentures
| |
|
March 31, 2023
|
|
|
December 31, 2022
|
|
| |
|
|
|
|
|
|
| March 2017 Debenture |
|
$ |
2,580,240 |
|
|
$ |
2,580,240 |
|
| 2018 Debentures |
|
|
5,642,000 |
|
|
|
5,642,000 |
|
| October 2022 Debentures |
|
|
100,000 |
|
|
|
400,000 |
|
|
Debentures, Gross
|
|
|
8,322,240 |
|
|
|
8,622,240 |
|
| Less current portion |
|
|
(8,322,240 |
) |
|
|
(8,622,240 |
) |
| Debentures, net of current portion |
|
$ |
- |
|
|
$ |
- |
|
|