Annual report pursuant to Section 13 and 15(d)

Related Party (Tables)

v3.24.1.u1
Related Party (Tables)
12 Months Ended
Dec. 31, 2023
Related Party  
Schedule of Unsecured notes payable

 

 

December 31,

 

 

December 31,

 

 

 

2023

 

 

2022

 

Unsecured note payable

 

$ 13,154,931

 

 

$ 13,154,931

 

 

 

 

 

 

 

 

 

 

Less fair value adjustment on extinguishment, net of amortized discount of $1,547,536 and $230,868, respectively

 

 

(2,175,208 )

 

 

(3,491,875 )

 

 

 

 

 

 

 

 

 

Total unsecured note payable

 

 

10,979,723

 

 

 

9,663,056

 

 

 

 

 

 

 

 

 

 

Less current portion

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

Unsecured note payable, net of current portion

 

$ 10,979,723

 

 

$ 9,663,056

 

Schedule of profit share liabilities

Profit Share as of January 1, 2023

 

$ 3,638,260

 

Addition

 

 

-

 

Loss on change in fair value of profit share

 

 

11,209,677

 

Profit Share as of December 31, 2023

 

$ 14,847,937

 

 

 

 

 

 

Profit Share as of January 1, 2022

 

$ 2,836,743

 

Addition

 

 

-

 

Loss on change in fair value of profit share

 

 

801,517

 

Profit Share as of December 31, 2022

 

$ 3,638,260