DEBT

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

DEBT

NOTE 10 – DEBT

Convertible Notes

As of both June 30, 2023 and December 31, 2022, there was $324,866 and $378,263 of convertible debt outstanding and a derivative liability of $236,736 and $306,467.

As of June 30, 2023, all outstanding convertible debt is default.

Notes Payable

On July 14, 2021, the Company entered a Securities Purchase Agreement (the “GS SPA”) with GS Capital Partners, LLC pursuant to which the Company issued to the Lender a 6% Redeemable Note in the principal amount of $2,000,000 (the “GS Note”). The purchase price of the GS Note is $1,980,000. The GS Note matures on July 14, 2022 upon which time all accrued and unpaid interest will be due and payable. Interest accrues on the GS Note at 6% per annum until the GS Note becomes due and payable. The GS Note is subject to various “Events of Default,” which are disclosed in the GS Note. Upon the occurrence of an “Event of Default,” the interest rate on the GS Note will be 18%. The GS Note is not convertible into shares of the Company’s Common Stock and is not dilutive to existing or future shareholders and the Company used a portion of the proceeds of the GS Note to retire convertible debt. As of June 30, 2023 and December 31, 2022, $2,000,000 remains outstanding. As of June 30, 2023, the GS note is in default.

Loans Payable

The Company’s RI and WS subsidiaries have various loans including Small Business Association (“SBA”) Economic Injury Disaster Loan (“EIDL’) loans, lines of credit and other advances. The loans bear interest with varying rates up to 9.25% per annum. The following is a summary of the loans payable at June 30, 2023 and December 31, 2022: 

	June 30,		December 31,
	2023		2022
RI - line of credit	$	99,971	$	99,971
RI - Short-term loans		41,279		43,899
WS - line of credit		200,000		200,000
WS- Short-term loans		126,816		128,830
Loan payable, current	$	468,067	$	472,700
RI - SBA EIDL	$	102,597	$	102,597
RI - long-term loans		84,748		86,041
WS - SBA EIDL		26,307		26,307
WS - long-term loans		92,446		113,564
Loan payable, non-current	$	306,098	$	328,508