| SCHEDULE OF OUTSTANDING DEBT |
Outstanding
debt consists of the following:
SCHEDULE
OF OUTSTANDING
DEBT
| | |
March 31, | | |
December 31, | |
| | |
2026 | | |
2025 | |
| | |
| | |
| |
| Merchant cash advance | |
$ | 1,653,853 | | |
$ | 1,744,134 | |
| Loan payable | |
| - | | |
| 1,601,052 | |
| Note payable - owners of Wellgistics | |
| 5,000,000 | | |
| 5,000,000 | |
| Note payable - third party, net of debt discount | |
| 450,000 | | |
| 898,411 | |
| Revolving line of credit | |
| 1,500,398 | | |
| 1,643,923 | |
| Convertible notes | |
| 6,567,649 | | |
| - | |
| Current portion of debt obligations | |
| 15,171,900 | | |
| 10,887,520 | |
| | |
| | | |
| | |
| Third party investor | |
$ | 100,000 | | |
$ | 100,000 | |
| Note payable - owners of Wellgistics | |
| 12,500,000 | | |
| 12,500,000 | |
| Long-term debt | |
| 12,600,000 | | |
| 12,600,000 | |
| Total debt | |
$ | 27,771,900 | | |
$ | 23,487,520 | |
|
| SCHEDULE OF GRANT- DATE FAIR VALUE OF WARRANTS |
The
following table presents, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of warrants
granted during the three months ended March 31, 2026:
SCHEDULE
OF GRANT- DATE FAIR VALUE OF WARRANTS
| | |
Three Months Ended | |
| | |
March 31, | |
| | |
2026 | |
| | |
| |
| Stock price | |
$ | 0.39 | |
| Exercise price | |
| 0.41 | |
| Risk-free interest rate | |
| 3.86 | % |
| Expected term (in years) | |
| 5.00 | |
| Expected volatility | |
| 196.9 | % |
| Expected dividend yield | |
| 0 | % |
|
| SCHEDULE OF ANNUAL PRINCIPAL PAYMENTS |
The
following table is a summary of annual principal payments of the Company’s outstanding debt:
SCHEDULE OF ANNUAL PRINCIPAL PAYMENTS
| March 31, | |
| |
| 2026 (nine months ending December 31, 2026) | |
$ | 17,440,798 | |
| 2027 | |
| 5,100,000 | |
| 2028 | |
| 7,500,000 | |
| Principal gross | |
| 30,040,798 | |
| Less : Unamortized debt discount | |
| (2,268,898 | ) |
| Principal Payment | |
$ | 27,771,900 | |
|