Due To Seller

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Due To Seller

NOTE 10: DUE TO SELLER

In connection with the acquisition of assets in The Albers Group, LLC transaction, the Company is obligated to pay $200,000. This amount will be paid over a ten-month period which commenced February 2022. The $200,000 is non-interest bearing and is reflected as a current liability on the Condensed Consolidated Balance Sheets as of September 30, 2022 and December 31, 2021 under “Due to Seller.” As of September 30, 2022 (unaudited) and December 31, 2021, the balance due for this obligation was $40,000 and $200,000, respectively.

As stated in Note 3,  in connection with the acquisition of LSG, the Company is obligated to pay $551,003. This amount will be paid in two tranches over a ten (10) month period, with the first tranche of $271,003 paid six (6) months after the closing date and the second tranche of $280,000 paid ten (10) months after the closing date. The payment of $271,003 consists of a $250,000 payment plus a $21,003 closing adjustment. The $551,003 is non-interest bearing and is reflected as a current liability on the Condensed Consolidated Balance Sheets as of September 30, 2022. As of September 30, 2022 (unaudited), the balance due for this obligation was $551,003, and $271,003 was paid in October 2022.