v3.22.2.2
NOTES PAYABLE AND LOAN FACILITY (Tables)
6 Months Ended
Jun. 30, 2022
Short-Term Debt [Line Items]  
SCHEDULE OF LONG-TERM DEBT

The following table summarizes shareholder, convertible and contingently convertible notes payable:

 

           
   June 30,   December 31, 
   2022   2021 
         
Shareholder, convertible and contingently convertible notes  $309,500   $1,241,895 
Accrued interest   18,733    147,009 
Total shareholder notes and accrued interest   328,233    1,388,904 
           
Less: current maturities   (328,233)   (1,388,904)
           
Total long-term debt  $-   $- 
SCHEDULE OF RELATED PARTY DEBT

The following table summarizes related party debt:

 

           
   June 30,   December 31, 
   2022   2021 
         
Rotman Family convertible notes  $1,967,737   $1,967,737 
Rotman Family nonconvertible notes   2,491,009    1,953,509 
Accrued interest   490,022    384,238 
Debt discount   -    (27,083)
Long term debt, current   4,948,768    4,278,401 
Less: current maturities   (2,694,000)   (1,487,000)
           
Long term debt  $2,254,768   $2,791,401 
SCHEDULE OF MATURITIES OF NOTES PAYABLE

Approximate maturities for the succeeding years are as follows:

 

      
Remainder of 2022  $1,888,000 
2023   1,342,000 
2024   233,000 
2025   36,000 
2026   38,000 
Thereafter   1,411,768 
      
Long term debt   $4,948,768 
Rotman Family Convertible Notes [Member]  
Short-Term Debt [Line Items]  
SCHEDULE OF NOTES PAYABLE

The following table summarizes the Rotman Family Convertible Notes:

 

            Carrying Amount 
       Principal    

June 30,

    December 31, 
   Issue Date   Amount    2022    2021 
Steven Rotman 8.00% note due July 2024  07/18/19  $105,000   $130,200   $126,000 
Steven Rotman 8.00% note due July 2024  07/18/19  $105,000   $130,200   $126,000 
Gregory Rotman 8.00% note due July 2024  07/18/19   55,207    68,472    66,264 
Steven Rotman 5.00% note due July 2027  07/18/19   1,102,500    1,265,578    1,238,016 
Bernard Rotman 5.00% note due July 2023  07/18/19   420,000    482,125    471,625 
Steven Rotman 5.00% note due December 2021  12/19/19   100,000    112,708    110,208 
Steven Rotman 5.00% note due February 2022  02/02/20   50,000    55,833    54,583 
Gregory Rotman 5.00% note due June 2023  06/03/21   130,030    137,073    133,822 
Jamie Rotman 5.00% note due August 2022  08/17/21   5,000    5,219    5,094 
                   
      $1,967,737    2,257,208    2,205,612 
                   
Debt Discount           -    (27,083)
                   
           $2,257,208   $2,178,529 
Rotman Family Non-convertible Notes [Member]  
Short-Term Debt [Line Items]  
SCHEDULE OF NOTES PAYABLE

The following table summarizes the Rotman Family Nonconvertible Notes:

 

            Carrying Amount 
       Principal    

June 30,

    December 31, 
   Issue Date   Amount    2022    2021 
Steven Rotman 5.00% note due July 2027  07/18/19  $367,500   $421,859   $412,672 
Steven Rotman 5.00% note due July 2027  07/18/19  $367,500   $421,859   $412,672 
Bernard Rotman 5.00% note due July 2023  07/18/19   140,000    160,708    157,208 
Steven Rotman 5.00% note due December 2022  12/22/20   1,048,000    1,141,442    1,115,243 
Steven Rotman 5.00% note due March 2023  03/31/21   395,000    421,528    411,652 
Steven Rotman 5.00% note due June 2023  06/02/21   3,009    3,172    3,097 
Blue Oar 6.00% note due May 2023  04/28/22   600,000    542,851    - 
                   
      $2,553,509   $2,691,560   $2,099,872