SHORT- AND LONG-TERM BORROWINGS (Tables)

3 Months Ended

Mar. 31, 2022

SHORT- AND LONG-TERM BORROWINGS (Tables)

Schedule Of Short-term And Long-term Borrowings

Short-term and Long-term borrowings, consist of the following:	March 31,		December 31,
Short term debt;	2022		2021
Convertible Promissory Notes, bearing an annual interest rate of 24% secured, past due	$	112,259	$	112,259
Short-Term Note – Jean Mork Bredeson cash deficit holdback, 15%, past due		210,000		210,000
Short-Term Note – Jean Mork Bredeson purchase allocation, 15%, past due		1,409,169		1,409,169
Convertible promissory note, related party interest rate 2.0%		1,350,000		1,500,000
Total short-term debt	$	3,081,428	$	3,231,428

Long term debt;
Funding from the SBA Program, annual interest of 3.75%, due 03/30/2051		150,000			150,000
Promissory Note – Jean Mork Bredeson, interest rate 5.5%, due 2/28/2022, past due		2,100,000			2,100,000
Senior Secured Redeemable Debenture, bearing an annual interest rate of 16%, due 12/31/2021, long term, past due		826,547			826,547
Total short-term and long-term borrowings, before debt discount		6,157,975			6,307,975
Less debt discount		(11	)		(17,719	)
Total short-term and long-term borrowings, net	$	6,157,964		$	6,290,256
Short-term and Long-term borrowings, consist of the following:
Short-term borrowings – net of discount	$	3,081,428		$	3,231,428
Long-term borrowings – net of discount		3,076,536			3,058,828
Total Short-Term and long term borrowings – net of discount	$	6,157,964		$	6,290,256