| LOANS PAYABLE |
9 - LOANS PAYABLE
Loans payable consist of the following as of:
| Schedule of loans payable |
|
|
|
|
|
|
|
|
| |
|
March 31,
2024 |
|
|
December 31,
2023 |
|
| Original payable of $151,096 with additional net borrowings of $252,954, requires monthly payments of $1,500 until total payments of $404,050 have been made |
|
|
356,012 |
|
|
|
338,512 |
|
| Original payable of $553,175 with additional net borrowings of $72,237, requires monthly payments of $25,000 until total payments of $625,412 have been made |
|
|
400,000 |
|
|
|
400,000 |
|
| Original payable of $492,180 with additional net borrowings of $620,804 requires monthly payments of $25,000 until total payments of $1,112,984 have been made |
|
|
865,618 |
|
|
|
865,618 |
|
| Original amounts due of $195,000, related to services provided by a vendor, requires monthly payments of $10,000 through May 2022, then monthly payments of $25,000 through August 2022 at which time any remaining balance is due |
|
|
20,000 |
|
|
|
20,000 |
|
| Other borrowing |
|
|
342,246 |
|
|
|
356,048 |
|
| Less: Current maturities |
|
|
1,370,751 |
|
|
|
1,360,609 |
|
| |
|
$ |
613,125 |
|
|
$ |
619,569 |
|
Future minimum principal repayments of the loans payable are as follows:
| Schedule of future minimum principal repayments of the loans payable |
|
|
|
|
| For the Twelve Months Ending March 31, |
|
|
|
| 2024 |
|
$ |
1,370,751 |
|
| 2025 |
|
|
613,125 |
|
| Loans payable |
|
$ |
1,983,876 |
|
|