Quarterly report pursuant to Section 13 or 15(d)

CONVERTIBLE DEBT (Tables)

v3.21.2
CONVERTIBLE DEBT (Tables)
9 Months Ended
Sep. 30, 2021
CONVERTIBLE DEBT  
Summary of aggregate balance of the convertible notes payable

The aggregate balance of the convertible notes payable is as follows at:

    

September 30, 2021

    

December 31, 2020

$

5,428,458

$

8,555,000

Accrued interest

 

436,394

 

518,924

Less: unamortized debt discount

 

 

(111,800)

Total convertible notes payable, net

 

5,864,852

 

8,962,124

Less: current portion of convertible notes payable

 

(999,326)

 

(1,866,237)

Convertible notes payable, net of current portion

$

4,865,526

$

7,095,887

Summary of minimum annual payments for the future periods

Minimum annual payments for the future periods are as follows:

Year Ended December 31,

    

    

2021 (three months)

$

272,544

2022

 

3,035,229

2023

 

1,739,450

2024

 

817,629

$

5,864,852