Related party (Details Narrative) - USD ($) |
1 Months Ended | 3 Months Ended | 12 Months Ended | ||||
---|---|---|---|---|---|---|---|
Sep. 30, 2022 |
Mar. 31, 2019 |
Dec. 31, 2022 |
Dec. 31, 2021 |
Dec. 31, 2020 |
Oct. 28, 2022 |
Nov. 29, 2016 |
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Interest expenses | $ 3,259 | $ 0 | |||||
Interest expenses | 1,570,446 | 2,817,895 | |||||
Notes receivable from related party | 45,000 | ||||||
Investment in related party | 25,000 | ||||||
Unamortized balance of discount | 51,724 | ||||||
Profit | 6,100,000.0 | ||||||
Cash | 1,504,225 | 1,388,307 | |||||
Debt issuance costs | 0 | 0 | |||||
Proceeds from issuance of equity securities | 4,500,000 | ||||||
Remaining debt discount | $ 1,438,615 | 2,249,891 | |||||
Market rate of interest | 21.00% | ||||||
Maturity Date | Oct. 31, 2022 | ||||||
Fair Value of sharing profit | $ 1,954,383 | ||||||
Debt Repayment Agreement [Member] | |||||||
Profit share valuation | 2,305,308 | ||||||
Net proceeds | $ 12,000,000.0 | ||||||
Profit share valuation adjusted | $ 4,026,568 | ||||||
Secured Note [Member] | |||||||
Interest expenses | $ 54,983 | 38,557 | $ 41,319 | ||||
Interest rate | 15.00% | ||||||
Principal outstanding on notes | $ 271,686 | 271,686 | $ 17,654,931 | $ 9,646,686 | |||
Maturity Date | Aug. 25, 2022 | ||||||
Kaye Cooper Kay & Rosenberg, LLP [Member] | |||||||
Related party debt | $ 25,000 | 206,554 | |||||
Legal services expense | $ 10,727 | $ 481,250 | 287,500 | ||||
MEEC [Member] | |||||||
Interest rate | 21.00% | ||||||
Fair Value of sharing profit | $ 488,274 | ||||||
Yearly payment description | estimated term of sixteen years with between $100,000 to $350,000 paid quarterly starting in February 2024, and an annual market interest rate of 21% | ||||||
AC Midwest Subordinated Note [Member] | |||||||
Interest expenses | $ 1,204,488 | 1,855,000 | |||||
Unamortized balance of discount | 3,491,875 | ||||||
Remaining debt discount | 230,868 | 0 | |||||
Discount on debentures | 6,916,687 | 1,070,819 | |||||
Related party debt restructuring resulting in capital contribution | $ 3,412,204 | ||||||
Market rate of interest | 21.00% | ||||||
Fair Value of sharing profit | $ 488,274 | ||||||
AC Midwest Unsecured Note [Member] | |||||||
Principal outstanding on notes | $ 13,154,931 | $ 13,000,000 | |||||
Fair Value of sharing profit | $ 3,234,469 | ||||||
Net licensing revenue | $ 3,500,000 | ||||||
Repayment of debt description | In connection with the New AC Midwest Unsecured Note the Company shall pay the principal outstanding, as well as the Profit Share, in an amount equal to 60.0% of Net Litigation Proceeds until such time as any litigation funder has been paid in full and, thereafter, in an amount equal to 75.0% of such Net Litigation Proceeds until the Unsecured Note and Profit Share have been paid in full. In addition, and within 30 days following the end of each fiscal quarter, the Company shall pay the principal outstanding and Profit Share in an aggregate amount equal to the Net Revenue Share (which means 60.0% of Net Licensing | ||||||
AC Midwest Unsecured Note [Member] | AC Midwest [Member] | |||||||
Principal outstanding on notes | $ 6,577,465 | ||||||
Percentages of remaining outstanding principal balance | 50.00% | ||||||
Percentages of aggregate outstanding principal balance | 50.00% | ||||||
Short term deb [Member] | |||||||
Interest expenses | $ 4,937 | ||||||
Cash | $ 1,200,000 | ||||||
Interest rate | 6.00% | ||||||
Promissory note | $ 250,000 |
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- Definition Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of the total principal payments made during the annual reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The average effective interest rate during the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Date when the debt instrument is scheduled to be fully repaid, in YYYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, before accumulated amortization, of debt issuance costs related to line of credit arrangements. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of expense provided in the period for legal costs incurred on or before the balance sheet date pertaining to resolved, pending or threatened litigation, including arbitration and mediation proceedings. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cash inflow associated with the amount received from entity's first offering of stock to the public. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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