| Schedule of Long-term Debt |
As
of December 31, 2021 and 2020, debt consisted of the following:
Schedule of Long-term Debt
| |
|
December 31, |
|
|
December 31, |
|
| |
|
2021 |
|
|
2020 |
|
| Line of credit: |
|
|
|
|
|
|
|
|
| Lines of credit |
|
$ |
- |
|
|
$ |
1,133,652 |
|
| Receivable financing |
|
|
- |
|
|
|
367,301 |
|
| Total lines of credit |
|
|
- |
|
|
|
1,500,953 |
|
| |
|
|
|
|
|
|
|
|
| Senior convertible notes payable: |
|
|
|
|
|
|
|
|
| Notes payable |
|
|
27,644 |
|
|
|
1,932,088 |
|
| Senior convertible notes payable– related parties |
|
|
122,272 |
|
|
|
1,428,161 |
|
| Senior convertible notes payable |
|
|
113,000,000 |
|
|
|
591,104 |
|
| Senior convertible notes payable of Lomotif Private Limited |
|
|
150,000 |
|
|
|
- |
|
| Senior convertible notes payable of Lomotif Private Limited – related parties |
|
|
2,500,000 |
|
|
|
- |
|
| Senior convertible notes payable |
|
|
2,500,000 |
|
|
|
- |
|
| Debt issuance costs |
|
|
(68,925,172 |
) |
|
|
(280,511 |
) |
| Total senior convertible notes payable |
|
|
46,847,100 |
|
|
|
1,738,754 |
|
| Less: current portion of convertible notes payable |
|
|
(44,238,177 |
) |
|
|
(577,260 |
) |
| Convertible notes payable – related parties, net of current portion |
|
|
2,608,923 |
|
|
|
1,161,494 |
|
| |
|
|
|
|
|
|
|
|
| Notes payable: |
|
|
|
|
|
|
|
|
| Notes payable |
|
|
27,644 |
|
|
|
1,932,088 |
|
| Debt issuance costs |
|
|
- |
|
|
|
(34,997 |
) |
| Total notes payable |
|
|
27,644 |
|
|
|
1,897,091 |
|
| Less: current portion of notes payable |
|
|
(15,530 |
) |
|
|
(1,301,212 |
) |
| Notes payable, net of current portion |
|
|
12,114 |
|
|
|
595,879 |
|
| |
|
|
|
|
|
|
|
|
| Notes payable – related parties: |
|
|
|
|
|
|
|
|
| Notes payable |
|
|
112,835 |
|
|
|
2,827,512 |
|
| Debt issuance costs |
|
|
- |
|
|
|
(33,833 |
) |
| Total notes payable – related parties: |
|
|
112,835 |
|
|
|
2,793,679 |
|
| Less: current portion of notes payable – related parties |
|
|
(112,835 |
) |
|
|
(1,389,922 |
) |
| Notes payable – related parties, net of current portion |
|
$ |
- |
|
|
$ |
1,403,757 |
|
|
| Schedule of Maturities of Long-term Debt |
The
scheduled maturities of the debt for the next five years as of December 31, 2021, are as follows:
Schedule of Maturities of Long-term Debt
| For the Years Ended December 31, |
|
Amount |
|
| 2022 |
|
|
113,278,365 |
|
| 2023 |
|
|
2,634,386 |
|
| 2024 |
|
|
- |
|
| 2025 |
|
|
- |
|
| 2026 |
|
|
- |
|
| Long-term Debt, Gross
|
|
|
115,912,751 |
|
| Less: debt discount |
|
|
(68,925,172 |
) |
| Long-term Debt |
|
$ |
46,987,579 |
|
|