Liquidated Damages Payable

12 Months Ended

Dec. 31, 2021

Liquidated Damages Payable

Liquidated Damages Payable

15. Liquidated Damages Payable

Liquidated Damages payable are summarized as follows:

	As of December 31, 2021
	Registration Rights Damages		Public Information Failure Damages		Accrued Interest		Balance
MDB Common Stock to be Issued (1)	$	15,001	$	-	$	-	$	15,001
Series H Preferred Stock		1,163,955		1,171,809		792,365		3,128,129
12% Convertible Debentures		-		873,092		242,325		1,115,417
Series I Preferred Stock		1,386,000		1,386,000		612,877		3,384,877
Series J Preferred Stock		1,560,000		1,560,000		489,797		3,609,797
Series K Preferred Stock		180,420		721,680		50,134		952,234
Total	$	4,305,376	$	5,712,581	$	2,187,498	$	12,205,455

	As of December 31, 2020
	Registration Rights Damages		Public Information Failure Damages		Accrued Interest		Balance
MDB Common Stock to be Issued (1)	$	15,001	$	-	$	-	$	15,001
Series H Preferred Stock		1,163,955		1,163,955		481,017		2,808,927
12% Convertible Debentures		-		905,490		134,466		1,039,956
Series I Preferred Stock		1,386,000		1,386,000		332,185		3,104,185
Series J Preferred Stock		1,200,000		1,200,000		200,022		2,600,022
Total	$	3,764,956	$	4,655,445	$	1,147,690	$	9,568,091

(1) Consists of shares of common stock issuable to MDB Capital Group, LLC (“MDB”).

For the years ended December 31, 2021 and 2020, liquidated damages payables were $12,205,455 (short-term of $5,197,182 and long-term of $7,008,273) and $9,568,091 (short-term of $9,568,091 and long-term of none), respectively.

The Company will continue to accrue interest on the Liquidated Damages balance at 1% per month based on the balance outstanding until paid. There is no scheduled date when the unpaid Liquidated Damages become due.

Information with respect to the Liquidated Damages recognized on the consolidated statements of operations is provided in Note 23.