| SCHEDULE OF DEBT |
A
breakdown of the Company’s debt as of June 30, 2026 and December 31, 2025 is presented below:
SCHEDULE OF DEBT
| | |
June 30, 2026 | | |
December 31, 2025 | |
| Promissory note | |
$ | 4,909,972 | | |
$ | 7,513,867 | |
| Debt discount and issuance cost | |
| (181,256 | ) | |
| (215,408 | ) |
| Total debt, net of debt discount and issuance costs | |
| 4,728,716 | | |
| 7,298,459 | |
| Current portion of long-term debt | |
| (1,176,203 | ) | |
| (1,186,833 | ) |
| Current portion of debt discount and issuance cost | |
| 68,874 | | |
| 68,872 | |
| Long-term debt | |
$ | 3,621,387 | | |
$ | 6,180,498 | |
|
| SCHEDULE OF CONVERSION ACTIVITY |
The
following table summarizes the conversion activity during the six months ended June 30, 2026, and during the year ended December 31,
2025:
SCHEDULE OF CONVERSION ACTIVITY
| Exchange Agreement Date | |
Principal Converted | | |
Shares Issued | |
| October 24, 2025 | |
$ | 192,569 | | |
| 660,075 | |
| February 10, 2026 | |
| 1,106,602 | | |
| 4,000,000 | |
| May 28, 2026 | |
| 742,500 | | |
| 2,750,000 | |
| Total converted in six months ended June 30, 2026 | |
$ | 2,041,671 | | |
| 7,410,075 | |
| Exchange Agreement Date | |
Principal Converted | | |
Shares Issued | |
| March 2, 2025 | |
$ | 450,000 | | |
| 750,000 | |
| April 3, 2025 | |
| 500,000 | | |
| 1,136,364 | |
| May 1, 2025 | |
| 175,000 | | |
| 863,637 | |
| July 15, 2025 | |
| 1,000,000 | | |
| 2,500,000 | |
| October 24, 2025 | |
| 909,315 | | |
| 2,325,000 | |
| Total converted in year 2025 | |
$ | 3,034,315 | | |
| 7,575,001 | |
|
| SCHEDULE OF DEBT REPAYMENT |
The
following table summarizes the 5five-year repayment schedule:
SCHEDULE OF DEBT REPAYMENT
| For the years ending December 31, | |
| |
| 2026 (remaining six months) | |
$ | 579,303 | |
| 2027 | |
| 3,519,372 | |
| 2028 | |
| 534,923 | |
| 2029 | |
| 276,374 | |
| 2030 | |
| - | |
| Total | |
$ | 4,909,972 | |
|