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