| Schedule of Notes Payable Related Party |
Notes
payable, related party, consists of the following at December 31, 2022 and 2021, respectively:
Schedule
of Notes Payable Related Party
| |
|
December 31, |
|
|
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 carries 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 carries 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 carries 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 carries 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 carries 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 carries 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 carries 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 year ended December 31, 2022 and 2021, respectively, as follows:
Schedule of Interest Expenses
| |
|
December 31, |
|
|
December 31, |
|
| |
|
2022 |
|
|
2021 |
|
| |
|
|
|
|
|
|
| Interest on
convertible notes |
|
$ |
59,023 |
|
|
$ |
17,260 |
|
| Interest on notes payable |
|
|
85,653 |
|
|
|
18,945 |
|
| Interest on notes payable,
related parties |
|
|
19,127 |
|
|
|
9,729 |
|
| Amortization of debt discounts
on convertible notes |
|
|
50,753 |
|
|
|
42,247 |
|
| Amortization of debt discounts
on convertible notes, common stock |
|
|
106,894 |
|
|
|
311,418 |
|
| Amortization of debt discounts
on convertible notes, warrants |
|
|
255,026 |
|
|
|
102,991 |
|
| Finance cost on equity
line of credit, issuances of series B preferred stock |
|
|
205,005 |
|
|
|
- |
|
| Finance cost on equity
line of credit, issuances of common stock |
|
|
134,128 |
|
|
|
- |
|
| Finance cost on equity
line of credit |
|
|
30,000 |
|
|
|
- |
|
| Interest
on accounts payable |
|
|
11,249 |
|
|
|
8,541 |
|
| Total
interest expense |
|
$ |
956,858 |
|
|
$ |
511,131 |
|
|