| Schedule of Notes Payable Related Party |
Notes
payable, related party, consists of the following at March 31, 2023 and December 31, 2022, respectively:
Schedule
of Notes Payable Related Party
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March 31, |
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December 31, |
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| |
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2023 |
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2022 |
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| |
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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 carries a 6% interest rate. |
|
$ |
50,000 |
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|
$ |
50,000 |
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| |
|
|
|
|
|
|
|
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| 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 carries a 6% interest rate. |
|
|
4,500 |
|
|
|
4,500 |
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| |
|
|
|
|
|
|
|
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| 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 carries a 6% interest rate. |
|
|
5,000 |
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|
|
5,000 |
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| |
|
|
|
|
|
|
|
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| 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 carries a 6% interest rate. |
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10,000 |
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|
|
10,000 |
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| |
|
|
|
|
|
|
|
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| 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 carries a 6% interest rate. |
|
|
10,000 |
|
|
|
10,000 |
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| |
|
|
|
|
|
|
|
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| 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 carries a 6% interest rate. |
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|
20,000 |
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|
|
20,000 |
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| |
|
|
|
|
|
|
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| 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 carries an 8% interest rate. |
|
|
200,000 |
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|
|
200,000 |
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| |
|
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|
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| Total notes payable. related party |
|
|
299,500 |
|
|
|
299,500 |
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| Less: current maturities |
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|
99,500 |
|
|
|
99,500 |
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| Notes payable, related party, long-term portion |
|
$ |
200,000 |
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|
$ |
200,000 |
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| Schedule of Interest Expenses |
The
Company recognized interest expense for the three months ended March 31, 2023 and 2022, as follows:
Schedule of Interest Expenses
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March 31, |
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|
March 31, |
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| |
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2023 |
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|
2022 |
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| |
|
|
|
|
|
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| Interest on convertible notes |
|
$ |
14,795 |
|
|
$ |
14,795 |
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| Interest on notes payable |
|
|
37,808 |
|
|
|
3,888 |
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| Interest on notes payable, related party |
|
|
5,467 |
|
|
|
3,967 |
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| Amortization of debt discounts |
|
|
- |
|
|
|
17,569 |
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| Amortization of debt discounts, common stock |
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|
- |
|
|
|
37,002 |
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| Amortization of debt discounts, warrants |
|
|
- |
|
|
|
88,278 |
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| Interest on accounts payable |
|
|
- |
|
|
|
693 |
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| Total interest expense |
|
$ |
58,070 |
|
|
$ |
166,192 |
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