| SCHEDULE OF PROMISSORY NOTES |
SCHEDULE OF PROMISSORY NOTES
Table
13.1: Details of Promissory Notes
| | |
Principal
Value | | |
Unamortized
Discount and Issuance Costs | | |
Convertible
Notes Carrying Balance | | |
Weighted
Average Interest Rate | |
| Balance as of December 31, 2024 | |
| 2,498,369 | | |
| (11,380 | ) | |
| 2,486,989 | | |
| 16.6 | % |
| Issuance | |
| 690,558 | | |
| (77,358 | ) | |
| 613,200 | | |
| 13.5 | % |
| Repayment | |
| (20,000 | ) | |
| - | | |
| (20,000 | ) | |
| 35.0 | % |
| Amortization | |
| 36,667 | | |
| 21,297 | | |
| 57,964 | | |
| | |
| Balance as of March
31, 2025 | |
$ | 3,205,594 | | |
$ | (67,441 | ) | |
$ | 3,138,153 | | |
| 15.8 | % |
| Conversion to equity | |
| (456,500 | ) | |
| - | | |
| (456,500 | ) | |
| 24.0 | % |
| Repayment | |
| (50,000 | ) | |
| - | | |
| (50,000 | ) | |
| 24.0 | % |
| Amortization | |
| - | | |
| 37,973 | | |
| 37,973 | | |
| | |
| Balance as of June 30,
2025 | |
$ | 2,699,094 | | |
$ | (29,468 | ) | |
$ | 2,669,626 | | |
| 14.3 | % |
| Repayment | |
| (31,579 | ) | |
| - | | |
| (31,579 | ) | |
| 12.0 | % |
| Amortization | |
| - | | |
| 20,616 | | |
| 20,616 | | |
| | |
| Balance as of September
30, 2025 | |
$ | 2,667,515 | | |
$ | (8,852 | ) | |
$ | 2,658,663 | | |
| 14.3 | % |
|
| SCHEDULE OF LOANS PAYABLE |
SCHEDULE OF LOANS PAYABLE
| | |
September
30, 2025 | | |
December
31, 2024 | | |
Weighted
Average Interest Rate | | |
Maturity
(Calendar Year) | |
| | |
September
30, 2025 | | |
December
31, 2024 | | |
Weighted
Average Interest Rate | | |
Maturity
(Calendar Year) | |
| Note issued in 2017 | |
$ | 250,000 | | |
$ | 250,000 | | |
| 4.0 | % | |
| 2020 | |
| Note issued in 2020 | |
| 300,000 | | |
| 300,000 | | |
| 24.0 | % | |
| 2021 | |
| Note issued in 2021 | |
| 400,000 | | |
| 400,000 | | |
| 24.0 | % | |
| 2021-
2022 | |
| Notes issued in 2023 | |
| 611,111 | | |
| 1,067,611 | | |
| 24.0 | % | |
| 2023 | |
| Notes issued in 2024 | |
| 485,846 | | |
| 480,758 | | |
| 11.5 | % | |
| 2025 | |
| Notes issued in 2025 | |
| 620,558 | | |
| - | | |
| 12.0 | % | |
| 2025
-2026 | |
| Funded loans payable | |
| 2,667,515 | | |
| 2,498,369 | | |
| 14.3 | % | |
| | |
| Less: Unamortized debt-issuance costs and discounts | |
| (8,852 | ) | |
| (11,380 | ) | |
| | | |
| | |
| Total loans payable | |
$ | 2,658,663 | | |
$ | 2,486,989 | | |
| | | |
| | |
|