Annual report pursuant to Section 13 and 15(d)

LOANS PAYABLE (Tables)

v3.22.1
LOANS PAYABLE (Tables)
12 Months Ended
Dec. 31, 2021
Loans Payable  
SCHEDULE OF LOANS PAYABLE

The Company’s loans payable are summarized below:

    2021   2020
    December 31,
    2021   2020
         
PPP Loan   $ -     $ 242,486  
EIDL     94,000       94,000  
2020 Demand Loan     -       14,749  
2018 Loan     223,356       301,559  
2017 Loan     -       15,115  
Land Loan     -       80,413  
Total Loans Payable     317,356       748,322  
Less: current portion     223,356       437,731  
Loans Payable, non-current   $ 94,000     $ 310,591  

SCHEDULE OF FUTURE MINIMUM PRINCIPAL PAYMENTS OF LOANS PAYABLE

Future minimum principal payments under the loans payable are as follows:

 

    Total
Years ending December 31,   Payments
2022   $ 223,356  
2023     2,037  
2024     2,105  
2025     2,195  
2026     2,278  
Thereafter     85,385  
 Total payment   $ 317,356