NOTES PAYABLE (Tables)

12 Months Ended

Dec. 31, 2023

Notes Payable

Schedule of notes payable

	Collateral		Guarantors		Interest rate		Due date		December 31, 2023			December 31, 2022
Circle 8 revolving credit facility		Circle 8 cranes with a book value of $31.7 million		-		8.4%		December 16, 2025	$	15,907,000		$	14,724,000
8.5% secured promissory notes		-		-		8.5%		May 7, 2024		-			17,389,000
16% promissory note (in default at December 31, 2023)		-		Ault & Company and Milton C. Ault, III		16.0%		December 16, 2023		2,572,000			17,456,000
Circle 8 equipment financing notes		Circle 8 equipment with a book value of $3.9 million		-		0.0%		March 15, 2024 through November 15, 2026		5,629,000			10,677,000
3% secured promissory notes		-		-		3.0%				-			5,672,000
8% demand loans		-		-		8.0%		Upon demand		950,000			-
Short-term bank credit facilities		-		-		5.9%		Renews monthly		1,464,000			1,702,000
XBTO note payable (in default at December 31, 2023 and repaid in March 2024)		2,482 Antminers with a book value of $3.4 million		-		12.5%		December 30, 2023		1,067,000			2,749,000
10% secured promissory notes		-		-		10.0%				-			8,789,000
Other ($0.9 million in default at December 31, 2023)		-		-						3,518,000			2,619,000
Total notes payable		-		-					$	31,107,000		$	81,777,000
Less:		-		-
Unamortized debt discounts		-		-						(83,000	)		(12,325,000	)
Total notes payable, net		-		-					$	31,024,000		$	69,452,000
Less: current portion		-		-						(12,866,000	)		(39,621,000	)
Notes payable – long-term portion		-		-					$	18,158,000		$	29,831,000

Schedule Of maturities

Year
2024	$	12,866,000
2025		17,721,000
2026		418,000
2027		51,000
2028		51,000
	$	31,107,000

Schedule of interest expense

	For the Year Ended
	December 31,
	2023		2022
Contractual interest expense	$	9,619,000	$	6,780,000
Forbearance fees		5,469,000		1,453,000
Amortization of debt discount		21,507,000		29,109,000
Total interest expense	$	36,595,000	$	37,342,000