Annual report pursuant to Section 13 and 15(d)

Debt (Tables)

v3.22.1
Debt (Tables)
12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Schedule of Long-term Debt

As of December 31, 2021 and 2020, debt consisted of the following:

 

    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:                
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       -  
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:

 

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