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DEBT (Tables)
 9 Months Ended
Sep. 30, 2022
DEBT  
Summary of Debt

September 30, 2022

 

Loan

Facility

 

 

Trade

Facility

 

 

Third

Party

 

 

COVID

Loans

 

 

Total

 

Beginning balance

 

$1,299,784

 

 

$6,207,010

 

 

$10,077,977

 

 

$234,117

 

 

$17,818,888

 

Proceeds

 

 

-

 

 

 

-

 

 

 

479,723

 

 

 

-

 

 

 

479,723

 

Payments

 

 

(190,622 )

 

 

(147,830 )

 

 

(2,132,165 )

 

 

(4,586)

 

 

(2,475,203 )

Conversion of debt

 

 

(1,190,000 )

 

 

-

 

 

 

 

 

 

 

-

 

 

 

(1,190,000 )

Recapitalized upon debt modification

 

 

(785)

 

 

(51,190 )

 

 

(781,752 )

 

 

-

 

 

 

(833,727 )

Accretion of debt and debt discount

 

 

0

 

 

 

-

 

 

 

(12,223)

 

 

-

 

 

 

(12,223)

Foreign currency translation

 

 

110,335

 

 

 

(299,325 )

 

 

(146,201)

 

 

(34,299 )

 

 

(369,490 )

Subtotal

 

 

28,712

 

 

 

5,708,665

 

 

 

7,485,359

 

 

 

195,232

 

 

 

13,417,968

 

Notes payable - long-term

 

 

-

 

 

 

-

 

 

 

(855,345 )

 

 

(170,704 )

 

 

(1,026,049 )

Notes payable - short-term

 

$28,712

 

 

$5,708,665

 

 

$6,630,014

 

 

$24,528

 

 

$12,391,919

 

December 31, 2021

 

Loan

Facility

 

 

Trade

Facility

 

 

Third

Party

 

 

COVID

Loans

 

 

Total

 

Beginning balance

 

$3,302,100

 

 

$6,446,000

 

 

$12,631,284

 

 

$435,210

 

 

$22,814,594

 

Proceeds

 

 

-

 

 

 

-

 

 

 

565,900

 

 

 

-

 

 

 

565,900

 

Payments

 

 

(141,475 )

 

 

(57,835 )

 

 

(62,878 )

 

 

(3,233 )

 

 

(265,421 )

Conversion of debt

 

 

(1,606,500 )

 

 

-

 

 

 

(3,010,000 )

 

 

-

 

 

 

(4,616,500 )

Recapitalized upon debt modification

 

 

(86,670 )

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(86,670 )

Debt forgiveness

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(169,770 )

 

 

(169,770 )

Foreign currency translation

 

 

(167,671 )

 

 

(181,155 )

 

 

(46,329 )

 

 

(28,090 )

 

 

(423,245 )

Subtotal

 

 

1,299,784

 

 

 

6,207,010

 

 

 

10,077,977

 

 

 

234,117

 

 

 

17,818,888

 

Notes payable - long-term

 

 

-

 

 

 

(2,450,000 )

 

 

(9,854,906 )

 

 

(51,478 )

 

 

(12,356,384 )

Notes payable - short-term

 

$1,299,784

 

 

$3,757,010

 

 

$223,071

 

 

$182,639

 

 

$5,462,504

 
Summary of Outstanding Debt

Our outstanding debt as of September 30, 2022 is repayable as follows:

 

 

September 30, 

2022

 

2022

 

$2,065,142

 

2023

 

 

11,244,009

 

2024

 

 

316,759

 

2025

 

 

320,620

 

2026 and thereafter

 

 

317,388

 

Total debt

 

 

14,263,918

 

Less: fair value adjustments to assumed debt obligations

 

 

(845,950 )

Less: notes payable - current portion

 

 

(12,391,919 )

Notes payable - long term portion

 

$1,026,049