| NOTE 8 - LOANS PAYABLE |
NOTE 8 - LOANS PAYABLE
Loans payable at March 31, 2026 and December
31, 2025 consisted of the following:
| | |
March 31, | |
December 31, | |
| |
Interest |
| | |
2026 | |
2025 | |
Term | |
rate |
| Martus | |
$ | 97,401 | | |
$ | 97,401 | | |
Note was issued on October 23, 2018 and due on January 2, 2027 | |
| 5.0 | % |
| Darlene Covid19 | |
| 60,742 | | |
| 60,703 | | |
Note was issued on April 1, 2020 and due on March 31, 2027 | |
| 0.0 | % |
| Promissory note payable | |
| 794,737 | | |
| 794,737 | | |
Note was issued July 16, 2025 and due on March 31, 2026 | |
| 24.0 | % |
| Promissory note payable | |
| 794,737 | | |
| 794,737 | | |
Note was issued August 8, 2025 and due on March 31, 2026 | |
| 24.0 | % |
| Promissory note payable | |
| 794,737 | | |
| 794,737 | | |
Note was issued September 11, 2025 and due on April 24, 2026 | |
| 24.0 | % |
| Promissory note payable | |
| 531,579 | | |
| 531,579 | | |
Note was issued October 14, 2025 and due on May 27, 2026 | |
| 24.0 | % |
| Promissory note payable | |
| 531,579 | | |
| 531,579 | | |
Note was issued November 10, 2025 and due on June 23, 2026 | |
| 24.0 | % |
| Promissory note payable | |
| 531,579 | | |
| 531,579 | | |
Note was issued December 22, 2025 and due on August 4, 2026 | |
| 24.0 | % |
| Promissory note payable | |
| 531,579 | | |
| — | | |
Note was issued February 9, 2026 and due on September 22, 2026 | |
| 24.0 | % |
| Promissory note payable | |
| 265,789 | | |
| — | | |
Note was issued March 26, 2026 and due on November 6, 2026 | |
| 24.0 | % |
| Financing loan | |
| 40,485 | | |
| 42,253 | | |
$1,148.94 monthly payment for 48 months | |
| 7.87 | % |
| Total | |
| 4,974,944 | | |
| 4,179,305 | | |
| |
| | |
| Less: Unamortized debt discount | |
| (83,053 | ) | |
| (127,170 | ) | |
| |
| | |
| Total loans payable | |
| 4,891,891 | | |
| 4,052,135 | | |
| |
| | |
| Less: Current portion of loans payable | |
| (4,862,497 | ) | |
| (4,020,833 | ) | |
| |
| | |
| Long-term loans payable | |
$ | 29,394 | | |
$ | 31,302 | | |
| |
| | |
Loans payable - related parties at March 31,
2026 and December 31, 2025 consisted of the following:
| | |
March 31, | |
December 31, | |
| |
Interest |
| | |
2026 | |
2025 | |
Term | |
rate |
| 49% of Shareholder of SwissLink | |
$ | 21,606 | | |
$ | 21,606 | | |
Note is due on demand | |
| 0.0 | % |
| 49% of Shareholder of SwissLink | |
| 73,105 | | |
| 103,803 | | |
Note is due on demand | |
| 5.0 | % |
| Total | |
| 94,711 | | |
| 125,409 | | |
| |
| | |
| Less: Current portion of loans payable - related parties | |
| (94,711 | ) | |
| (125,409 | ) | |
| |
| | |
| Long-term loans payable - related parties | |
$ | — | | |
$ | — | | |
| |
| | |
During the three months ended March 31, 2026
and 2025, the Company borrowed from third parties totaling $797,368 and $543,478, respectively, which includes original
issue discount and financing costs of $47,368 and $48,478, respectively, and repaid the principal amount of $1,769
and $449,438 (consisting of $9,438 of payments on loans payable and $440,000 of payments on a note payable issued for the acquisition
of a subsidiary), respectively. Additionally, during the three months ended March 31, 2026 and 2025, the Company repaid the principal
amount of notes payable to related parties totaling $30,698 and $190,864, respectively.
During the three months ended March 31, 2026
and 2025, the Company recorded interest expense of $259,512 and $99,675 and recognized amortization of discount, included
in interest expense, of $91,486 and $36,105, respectively.
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