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Schedule of Future Amortization of Loans Payable (Details)
Sep. 30, 2023
USD ($)
2023 (9 months) $ 19,274
2024 75,304
2025 62,648
2026 6,007
Total Note Payments 163,233
Current Portion of Loan Payable (72,787)
Non-Current Portion of Loan Payable 90,446
Mercedes Benz [Member]  
2023 (9 months) 2,792 [1]
2024 11,168 [1]
2025 8,686 [1]
2026 [1]
Total Note Payments 22,646 [1]
Current Portion of Loan Payable (10,626) [1]
Non-Current Portion of Loan Payable 12,020 [1]
Navitas BLU3 [Member]  
2023 (9 months) 3,365 [2]
2024 16,629 [2]
2025 18,024 [2]
2026 6,007 [2]
Total Note Payments 44,025 [2]
Current Portion of Loan Payable (16,297) [2]
Non-Current Portion of Loan Payable 27,728 [2]
NFS SSI [Member]  
2023 (9 months) 8,379 [3]
2024 26,279 [3]
2025 12,328 [3]
2026 [3]
Total Note Payments 46,986 [3]
Current Portion of Loan Payable (25,193) [3]
Non-Current Portion of Loan Payable 21,793 [3]
Navitas 2022 BLU3 [Member]  
2023 (9 months) 4,738 [4]
2024 21,228 [4]
2025 23,610 [4]
2026 [4]
Total Note Payments 49,576 [4]
Current Portion of Loan Payable (20,671) [4]
Non-Current Portion of Loan Payable $ 28,905 [4]
[1] On August 21, 2020, the Company executed an installment sales contract with Mercedes Benz Coconut Creek for the purchase of a 2019 Mercedes Benz Sprinter delivery van. The installment agreement is for $55,841 with a zero interest rate payable over 60 months with a monthly payment of $931 and is personally guaranteed by Mr. Carmichael. The loan balance as of September 30, 2023 was $22,646 and $31,023 as of December 31, 2022.
[2] On May 19, 2021, BLU3 executed an equipment finance agreement with Navitas Credit Corp. (“Navitas”) to finance the purchase of certain plastic molding equipment. The amount financed is $75,764 payable over 60 equal monthly installments of $1,611 (the “Navitas 1”). The equipment finance agreement contains customary events of default. The loan balance as of September 30, 2023 was $44,025 and $54,930 as of December 31, 2022.
[3] On June 29, 2022, SSI executed an equipment financing agreement with NFS Leasing (“NFS Leasing”) to secure replacement production molds. The total purchase price of the molds was $84,500 of which $63,375 was financed by NFS Leasing on August 15, 2022. The financing agreement has a 33 month term beginning in August 2022 with a monthly payment of $2,571. The financing agreement contains customary events of default, is guaranteed by the Company and NFS Leasing has a lien on all of the assets of SSI. The loan balance as of September 30, 2023 and December 31, 2022 was $46,986 and $60,804, respectively.
[4] On December 12, 2022, BLU3 executed an equipment finance agreement to finance the purchase of certain plastic molding equipment through Navitas Credit Corp. (“Navitas”). The amount financed is $63,689 payable over 36 equal monthly installments of $2,083 (“Navitas 2”). The equipment finance agreement contains customary events of default. The loan balance as of September 30, 2023 was $49,576 and $63,689 as of December 31, 2022.