| SCHEDULE OF DEBT |
The
following table provides a summary of the Company’s outstanding debt as of December 31, 2022:
SCHEDULE
OF DEBT
| | |
Principal
balance | | |
Accrued
interest | | |
Fair
value adjustment | | |
Net
debt
balance | |
| 2022 Notes | |
$ | 3,905,264 | | |
$ | 10,544 | | |
$ | 287,771 | | |
$ | 4,203,579 | |
| Financed insurance | |
| 195,273 | | |
| 7,906 | | |
| - | | |
| 203,179 | |
| Total | |
$ | 4,100,537 | | |
$ | 18,450 | | |
$ | 287,771 | | |
$ | 4,406,758 | |
|
The
following table provides a summary of the Company’s outstanding debt as of December 31, 2022:
SCHEDULE OF DEBT
| | |
Principal balance | | |
Accrued interest | | |
Fair value adjustment | | |
Net debt balance | |
| 2022 Notes | |
$ | 3,905,264 | | |
$ | 10,544 | | |
$ | 287,771 | | |
$ | 4,203,579 | |
| Financed insurance | |
| 195,273 | | |
| 7,906 | | |
| - | | |
| 203,179 | |
| Total | |
$ | 4,100,537 | | |
$ | 18,450 | | |
$ | 287,771 | | |
$ | 4,406,758 | |
The
following table provides a summary of the Company’s outstanding debt as of December 31, 2021:
| | |
Principal balance | | |
Accrued interest | | |
Unamortized debt discount | | |
Net debt balance | |
| 2021 Notes | |
$ | 13,647,341 | | |
$ | 159,435 | | |
$ | 2,993,061 | | |
$ | 16,799,837 | |
| Financed insurance | |
| 385,187 | | |
| 4,082 | | |
| - | | |
| 389,269 | |
| Total | |
$ | 14,032,528 | | |
$ | 163,517 | | |
$ | 2,993,061 | | |
$ | 17,189,106 | |
|
| SCHEDULE OF INTEREST EXPENSE DEBT |
|
The
interest expense recognized for notes payable (excluding the 2022 and 2021 Notes) was as follows:
SCHEDULE OF INTEREST EXPENSE DEBT
| | |
2022 | | |
2021 | |
| | |
Year Ended December 31, | |
| | |
2022 | | |
2021 | |
| Stated interest accrual | |
$ | 9,909 | | |
$ | 251,857 | |
| Debt discount amortization | |
| - | | |
| 945,969 | |
| Total | |
$ | 9,909 | | |
$ | 1,197,826 | |
|
| SCHEDULE OF CONVERSION DEBT |
|
The
following table provides a summary of the Company’s 2021 Note conversions during the year ended December 31, 2022:
SCHEDULE OF CONVERSION DEBT
| | |
Shares | | |
Weighted
Average Conversion
Price | | |
Conversion
Value | |
| During
the year ended December
31, 2022 | |
| 70,773 | | |
$ | 191.06 | | |
$ | 13,521,834 | |
|
| SCHEDULE OF CONVERSION DEBT |
|
The
following table provides a summary of the Company’s 2022 Notes conversions during the year ended December 31, 2022:
SCHEDULE OF CONVERSION DEBT
| | |
| | |
Weighted
Average | | |
Conversion | |
| | |
Shares | | |
Conversion
Price | | |
Value | |
| During
the year ended December
31, 2022 | |
| 111,226 | | |
$ | 36.06 | | |
$ | 4,011,035 | |
|