| Schedule of Notes Payable Related Party |
Notes
payable, related party, consists of the following at June 30, 2022 and December 31, 2021, respectively:
Schedule
of Notes Payable Related Party
| |
|
|
June 30, |
|
|
|
December 31, |
|
| |
|
June 30, |
|
|
December 31, |
|
| |
|
2022 |
|
|
2021 |
|
| |
|
|
|
|
|
|
| On June 3, 2022, the Company received an advance of $10,000 from Isiah Thomas, III, our Chairman of the Board and CEO, pursuant to an unsecured promissory note due on demand that carried a 6% interest rate. |
|
$ |
10,000 |
|
|
$ |
- |
|
| |
|
|
|
|
|
|
|
|
| On May 5, 2022, the Company received an advance of $10,000 from Isiah Thomas, III, our Chairman of the Board and CEO, pursuant to an unsecured promissory note due on demand that carried a 6% interest rate. |
|
|
10,000 |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
| On May 5, 2022, the Company received an advance of $20,000 from Dr. Kenneth Perego, II, M.D., our Vice Chairman of the Board pursuant to an unsecured promissory note due on demand that carried a 6% interest rate. |
|
|
20,000 |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
| On December 29, 2021, the Company received an advance of $200,000 from Dr. Kenneth Perego, II, M.D., our Vice Chairman of the Board pursuant to an unsecured promissory note due January 1, 2024 that carried an 8% interest rate. |
|
|
200,000 |
|
|
|
200,000 |
|
| |
|
|
|
|
|
|
|
|
| Total notes payable. related party |
|
|
240,000 |
|
|
|
200,000 |
|
| Less: current maturities |
|
|
40,000 |
|
|
|
- |
|
| Notes payable, related party, long-term portion |
|
$ |
200,000 |
|
|
$ |
200,000 |
|
|
|
| Schedule of Interest Expenses |
The
Company recognized interest expense for the six months ended June 30, 2022 and 2021, as follows:
Schedule of Interest Expenses
| |
|
|
June 30, |
|
|
|
June 30, |
|
| |
|
June 30, |
|
|
June 30, |
|
| |
|
2022 |
|
|
2021 |
|
| |
|
|
|
|
|
|
| Interest on convertible notes |
|
$ |
29,753 |
|
|
$ |
- |
|
| Interest on notes payable |
|
|
20,032 |
|
|
|
18,987 |
|
| Interest on notes payable, related parties |
|
|
8,604 |
|
|
|
- |
|
| Amortization of debt discounts |
|
|
48,649 |
|
|
|
13,786 |
|
| Amortization of debt discounts, common stock |
|
|
74,414 |
|
|
|
170,033 |
|
| Amortization of debt discounts, warrants |
|
|
177,537 |
|
|
|
- |
|
| Amortization of stock-based debt discounts |
|
|
- |
|
|
|
- |
|
| Interest on accounts payable |
|
|
11,249 |
|
|
|
7,289 |
|
| Total interest expense |
|
$ |
356,922 |
|
|
$ |
210,095 |
|
|
The
Company recognized interest expense for the year ended December 31, 2021 and 2020, respectively, as follows:
Schedule of Interest Expenses
| |
|
December 31, |
|
|
December 31, |
|
| |
|
2021 |
|
|
2020 |
|
| |
|
|
|
|
|
|
| Interest on convertible notes |
|
$ |
17,260 |
|
|
$ |
21,516 |
|
| Interest on notes payable |
|
|
28,674 |
|
|
|
9,734 |
|
| Amortization of debt discounts |
|
|
42,247 |
|
|
|
- |
|
| Amortization of stock-based debt discounts |
|
|
414,409 |
|
|
|
- |
|
| Interest on accounts payable |
|
|
8,541 |
|
|
|
16,342 |
|
| Total interest expense |
|
$ |
511,131 |
|
|
$ |
47,592 |
|
|