Convertible Promissory Notes and Loans Payable (Tables)

3 Months Ended

Mar. 31, 2024

Debt Instrument [Line Items]

Schedule of Convertible Debentures

Convertible promissory notes consisted of the following at March 31, 2024:

Origination Date	Maturity Date	Interest Rate			Origination Principal Balance		Original Discount Balance			Period End Principal Balance		Period End Discount Balance			Period End Balance, Net		Accrued Interest Balance		Reg.
9/03/21	9/03/24		8	%		346,500		(12,355	)	$	346,500	$	(2,186	)	$	344,314		-		(1	)
9/03/21	9/03/24		8	%		3,500		(125	)		3,500		(21	)		3,479		-		(2	)
9/30/22	Demand		8	%		66,793		(19,245	)		63,746		(9,658	)		54,088		-		(3	)
										$	413,746	$	(11,865	)	$	401,881	$	-

Schedule Convertible Promissory Notes

A breakdown of current and long-term amounts due are as follows for the convertible promissory notes as of March 31, 2024:

	Summit Holdings V, LLC Note			Tierra Vista Partners, LLC Note			Robert Carmichael Note			Total
2024		346,500			3,500			63,746			413,746
Discount		(2,186	)		(21	)		(9,658	)		(11,865	)
Total Loan Payments	$	344,314		$	3,479		$	54,088		$	401,881
Current Portion of Loan Payable	$	(344,314	)	$	(3,479	)	$	(54,088	)	$	(401,881	)
Non-Current Portion of Loan Payable	$	-		$	-		$	-		$	-

(1) On September 3, 2021, the Company issued a three-year 8% convertible promissory note in the principal amount of $346,500 to Summit Holding V, LLC as part of the acquisition of SSI. The Company is required to make quarterly payments under the note in an amount equal to 50% of the adjusted net profit of SSI. Interest is payable quarterly in shares of common stock of the Company at a conversion price of $0.051272 per share. The note holder may convert outstanding principal and interest into shares of common stock at a conversion price of $0.051272 per share at any time during the term of the note. The Company recorded $12,355 for the beneficial conversion feature. This note is classified as a current liability for the quarter ended March 31, 2024.

Schedule of Future Amortization of Loans Payable

	Mercedes BMG (1)			Navitas BLU3 (2)			NFS SSI (3)			Navitas 2022 BLU3 (4)			Navitas 2024 BLU3 (5)			Total
2024 (9 months)	$	11,168		$	12,596		$	27,412		$	16,131		$	3,791		$	71,097
2025		5,895			19,556			5,036			25,143			5,604			61,234
2026		-			6,339			-			-			6,304			12,643
2027		-						-			-			7,092			7,091
Thereafter		-			-			-			-			8,685			8,685
Total Loan Payments	$	17,063		$	38,492		$	32,448		$	41,273		$	31,476		$	160,751
Current Portion of Loan Payable	$	(11,168	)	$	(16,967	)	$	(27,412	)	$	(21,801	)	$	(5,131	)	$	(82,478	)
Non-Current Portion of Loan Payable	$	5,895		$	21,525		$	5,036		$	19,472		$	26,345		$	78,273

(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 March 31, 2024 was $17,063 and $19,855 as of December 31, 2023.
(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 equipment finance agreement contains customary events of default. The loan balance as of March 31, 2024 was $38,492 and $42,525 as of December 31, 2023.
(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 March 31, 2024 and December 31, 2023 was $32,448 and $38,607, respectively.
(4)	On December 12, 2022, BLU3 executed an equipment finance agreement to finance the purchase of certain plastic molding equipment through Navitas. The amount financed is $63,689 payable over 36 equal monthly installments of $2,083. The equipment finance agreement contains customary events of default. The loan balance as of March 31, 2024 was $41,273 and $44,839 as of December 31, 2023.
(5)	On February 12, 2024, BLU3 executed an inventory finance agreement to finance the purchase of certain equipment stock through Navitas. The amount financed is $32,274 payable over 60 equal monthly installments of $715. The inventory finance agreement contains customary events of default. The loan balance as of March 31, 2024 was $31,476.

Convertible Debenture Four [Member] | Summit Holding V, LLC [Member]

Debt Instrument [Line Items]

Schedule of Future Amortization of Loans Payable

	Payment Amortization
2024		346,500
Total Note Payments	$	346,500
Current portion of note payable		(346,500	)
Non-Current Portion of Notes Payable	$	-

Convertible Debenture [Member] | Tierra Vista Partners, LLC [Member]

Debt Instrument [Line Items]

Schedule of Future Amortization of Loans Payable

	Payment Amortization
2024		3,500
Total Note Payments	$	3,500
Current portion of note payable		(3,500	)
Non-Current Portion of Notes Payable	$	-