v3.26.1
NOTE 8 - LOANS PAYABLE
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
NOTE 8 - LOANS PAYABLE

NOTE 8 - LOANS PAYABLE

 

Loans payable at June 30, 2026, and December 31, 2025, consisted of the following: 

 

   June 30,  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   50,179    60,703   Note was issued on April 1, 2020 and due on March 31, 2027   0.0%
Promissory note payable   —      794,737   Note was issued July 16, 2025 and due on February 26, 2026   24.0%
Promissory note payable   —      794,737   Note was issued August 8, 2025 and due on March 21, 2026   24.0%
Promissory note payable   —      794,737   Note was issued September 16, 2025 and due on April 24, 2026   24.0%
Promissory note payable   —      531,579   Note was issued October 14, 2025 and due on May 27, 2026   24.0%
Promissory note payable   —      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   36,882    42,253   $1,148.94 monthly payment for 48 months   7.87%
Promissory note payable   531,579    —     Note was issued April 2, 2026 and due on November 13, 2026   24.0%
Promissory note payable   265,789    —     Note was issued May 12, 2026 and due on December 23, 2026   24.0%
Promissory note payable   321,053    —     Note was issued June 8, 2026 and due on January 19, 2027   24.0%
Total   2,631,830    4,179,305         
Less: Unamortized debt discount   (80,934)   (127,170)        
Total loans payable   2,550,896    4,052,135         
Less: Current portion of loans payable   (2,524,408)   (4,020,833)        
Long-term loans payable  $26,488   $31,302         

 

 

Loans payable - related parties at June 30, 2026, and December 31, 2025, consisted of the following:

 

   June 30,  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   42,955    103,803   Note is due on demand   5.0%
Total   64,561    125,409         
Less: Current portion of loans payable - related parties   (64,561)   (125,409)        
Long-term loans payable - related parties  $—     $—           

 

During the six months ended June 30, 2026 and 2025, the Company borrowed from third parties totaling $1,915,789 and $3,215,000, respectively, which includes original issue discount and financing costs of $115,789 and $226,374, respectively, and repaid the principal amount of $15,934 and $1,260,562 (consisting of $15,776 of payments on loans payable and $1,244,786 of payments on a note payable issued for the acquisition of a subsidiary), respectively. Additionally, during the six months ended June 30, 2026, and 2025, the Company repaid the principal amount of notes payable to related parties totaling $60,848 and $389,514, respectively.

 

During the six months ended June 30, 2026, the Company settled five (5) promissory notes with an aggregate principal amount of $3,447,368 and accrued interest of $397,348 by issuing 247,140 shares of Series D Preferred Stock valued at $4,426,537. As a result, the Company recorded a loss on settlement of debt of $581,821..

 

During the three and six months ended June 30, 2026 and 2025, the Company recognized interest expenses and amortization debt discount as follows:

                                 
   Three Months Ended  Six Months Ended
   June 30,  June 30,
   2026  2025  2026  2025
Interest expenses  $243,086   $69,827   $502,598   $169,502 
Amortization of debt discount  $70,540   $41,778   $162,026   $77,883