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LONG-TERM DEBT RELATED PARTIES (Tables)
6 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
SCHEDULE OF LONG-TERM DEBT RELATED PARTIES

The following is a summary of the current portion - long-term debt - related parties as of June 30, 2022 and December 31, 2021:

 

      

June 30,

2022

  

December 31,

2021

 
             
Unsecured advances - CEO   (a)   $3,372,404   $2,908,562 
Notes payable - Satinder Thiara   (b)    32,000    32,000 
Promissory notes – Kunaal Sikka   (c)    265,000    265,000 
Notes payable – Swarn Singh   (d)    195,000    195,000 
Note payable - Chaudhary   (e)    32,392    8,828 
Note payable - Director   (g)    400,000    400,000 
Note payable - other   (h)    17,735    - 
Advances –officers   (f)    36,113    83,073 
                
 Long term debt current - related parties        4,350,644    3,892,463 
Current portion of long-term debt related parties        (4,350,644)   (3,892,463)
Long-term debt – related parties       $-   $- 

 

(a) This is an unsecured advance from the CEO originally entered into January 1, 2015. The note bears interest at 15% annually (1.25% monthly) and are due on demand.
   
(b) Notes payable to Satinder Thiara entered into May 25, 2016 ($22,000) which is due December 31, 2021, December 13, 2016 ($10,000) which is due December 31, 2021, and May 1, 2018 ($25,000) which matured December 31, 2019 at interest rate of 15% annually (1.25% monthly). These are unsecured loans. The May 1, 2018 note is in default as of December 31, 2019. As a result the interest rate was changed to 21% annually (1.75% monthly). The May 1, 2018 note that matured December 31, 2019 was converted along with $12,392 in accrued interest into 5,499 shares of common stock on March 5, 2021.
   
(c) Unsecured promissory note from Kunaal Sikka, the CEO’s son, dated September 13, 2018, in the amount of $15,000, maturing on December 31, 2019, and accruing interest at an annual rate of 12%. The note was in default as of December 31, 2019 through June 25, 2021 when the note was extended until December 31, 2022. As a result the interest rate was changed to 18% annually (1.50% monthly) through June 25, 2021 and then changed to 6% annually.
   
  Unsecured promissory note from Kunaal Sikka, the CEO’s son, dated December 15, 2021, in the amount of $250,000, maturing on December 31, 2022, and accruing interest at an annual rate of 15%.

 

 

(d) Note payable to Swarn Singh, father-in-law of the CEO, entered into January 3, 2017 ($25,000) and February 1, 2017 ($20,000) at interest rate of 15% annually (1.25% monthly). These are unsecured notes. Both notes were due December 31, 2019. The notes are in default as of December 31, 2019. As a result the interest rate was changed to 21% annually (1.75% monthly).
   
  Unsecured promissory note to Swarn Singh, father-in-law of the CEO, dated December 15, 2021, in the amount of $150,000, maturing on December 31, 2022, and accruing interest at an annual rate of 15%.
   
(e) Note payable to Sushil Chaudhary dated April 27, 2020 in the amount of 1,100,000 INR (approximately $14,500 US$) due on demand at 13% per annum. This amount was offset by an amount due from the company that Sushil Chaudhary owns in the amount of $8,860.
   
(f) Note payable to officer dated June 18, 2020 in the amount of 7,650,000 INR (approximately $100,000 US$) interest free and due on demand with a balance of $36,113 as of June 30, 2022.
   
(g) Note payable to a director dated June 15, 2021 that matured December 12, 2021 in the amount of $400,000. The note does not bear interest however the director received two tranches of 18,750 shares each for lending this amount. The Company and the director extended the maturity date of this note to June 14, 2022. As of June 30, 2022, the note has not been repaid. The director and the Company are negotiating revised terms. As a result of the failure to repay the note by the maturity date, the note is in default.
   
(h) Note payable with a company owned by the CEO dated April 2, 2022 in the amount of $18,445 at 8% interest per annum, due on demand.