| SCHEDULE OF CONVERTIBLE NOTES |
Amounts
owed pursuant to the Company’s convertible debt obligations are as follows:
SCHEDULE OF CONVERTIBLE NOTES
| |
|
GGH Notes |
|
|
2023 Note |
|
|
Total Principal |
|
|
Debt Discount |
|
|
Convertible debt, net of discount |
|
| Balance at January 1, 2023 |
|
$ |
1,997,909 |
|
|
$ |
- |
|
|
$ |
1,997,909 |
|
|
$ |
(6,450 |
) |
|
$ |
1,991,459 |
|
| Note issued |
|
|
- |
|
|
|
5,617,978 |
|
|
|
5,617,978 |
|
|
|
(2,509,601 |
) |
|
|
3,108,377 |
|
| Debt principal converted to common stock: |
|
|
(1,335,439 |
) |
|
|
(523,925 |
) |
|
|
(1,859,364 |
) |
|
|
- |
|
|
|
(1,859,364 |
) |
| Principal repayments |
|
|
(662,470 |
) |
|
|
(200,071 |
) |
|
|
(862,541 |
) |
|
|
- |
|
|
|
(862,541 |
) |
| Amortization of debt discount |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
1,079,034 |
|
|
|
1,079,034 |
|
| Balance at June 30, 2023 |
|
$ |
- |
|
|
$ |
4,893,982 |
|
|
$ |
4,893,982 |
|
|
$ |
(1,437,017 |
) |
|
$ |
3,456,965 |
|
| Less: current portion |
|
|
- |
|
|
|
4,773,982 |
|
|
|
4,773,982 |
|
|
|
(1,401,781 |
) |
|
|
3,372,201 |
|
| Equals: convertible debt, non-current |
|
$ |
- |
|
|
$ |
120,000 |
|
|
$ |
120,000 |
|
|
$ |
(35,236 |
) |
|
$ |
84,764 |
|
|
| SUMMARY OF THE CHANGES IN THE FAIR VALUE OF DERIVATIVE LIABILITIES |
The
following table sets forth a summary of the changes in the fair value of the derivative liability that are measured at fair value
on a recurring basis:
SUMMARY OF THE CHANGES IN THE FAIR VALUE OF DERIVATIVE LIABILITIES
| |
|
|
|
|
| Balance as of January 1, 2023 |
|
$ |
- |
|
| Fair value of derivative liability upon issuance of 2023 Note |
|
|
- |
|
| Change in fair value of derivative liability |
|
|
2,141,117 |
|
| Balance as of June 30, 2023 |
|
|
2,141,117 |
|
| Less: current portion of derivative liability |
|
|
2,088,617 |
|
Equals: derivative liability, non-current portion |
|
$ |
52,500 |
|
|