| Schedule of Notes Payable Related Party |
Notes
payable, related party, consists of the following at September 30, 2022 and December 31, 2021, respectively:
Schedule
of Notes Payable Related Party
| |
|
September 30, |
|
|
December 31, |
|
| |
|
2022 |
|
|
2021 |
|
| |
|
|
|
|
|
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| On August 5, 2022, the Company received an advance of $50,000 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. |
|
$ |
50,000 |
|
|
$ |
- |
|
| |
|
|
|
|
|
|
|
|
| On August 2, 2022, the Company received an advance of $4,500 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. |
|
|
4,500 |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
| On July 7, 2022, the Company received an advance of $5,000 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. |
|
|
5,000 |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
| 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 |
|
|
299,500 |
|
|
|
200,000 |
|
| Less: current maturities |
|
|
99,500 |
|
|
|
- |
|
| Notes payable, related party, long-term portion |
|
$ |
200,000 |
|
|
$ |
200,000 |
|
|
| Schedule of Interest Expenses |
The
Company recognized interest expense for the nine months ended September 30, 2022 and 2021, as follows:
Schedule of Interest Expenses
| |
|
September 30, |
|
|
September 30, |
|
| |
|
2022 |
|
|
2021 |
|
| |
|
|
|
|
|
|
| Interest on convertible notes |
|
$ |
43,899 |
|
|
$ |
21,120 |
|
| Interest on notes payable |
|
|
51,345 |
|
|
|
8,434 |
|
| Interest on notes payable, related parties |
|
|
13,538 |
|
|
|
- |
|
| Finance cost on equity line of credit |
|
|
15,000 |
|
|
|
- |
|
| Amortization of debt discounts |
|
|
50,753 |
|
|
|
24,288 |
|
| Amortization of debt discounts, common stock |
|
|
106,894 |
|
|
|
273,594 |
|
| Amortization of debt discounts, warrants |
|
|
255,026 |
|
|
|
12,751 |
|
| Series B preferred stock issued as a commitment on an ELOC |
|
|
205,005 |
|
|
|
- |
|
| Common stock issued as a commitment on the 2nd AJB Note |
|
|
134,128 |
|
|
|
- |
|
| Interest on accounts payable |
|
|
11,249 |
|
|
|
7,771 |
|
| Total interest expense |
|
$ |
886,837 |
|
|
$ |
347,958 |
|
|