Notes Payable (Tables)

3 Months Ended

Mar. 31, 2024

On March 31, 2024 and December 31, 2023, notes payable consisted of the following:

	March 31, 2024			December 31, 2023
Notes payable	$	298,028		$	105,958
Note payable – PPP note		16,834			18,823
Total notes payable		314,862			124,781
Less: unamortized debt discount		(30,311	)		(764	)
Note payable, net		284,551			124,017
Less: current portion of notes payable, net of discount		(232,104	)		(81,908	)
Notes payable – long-term	$	52,447		$	42,109

Schedule of Notes Payable Monthly Payment

Monthly payments of principal and interest shall be as follows:

Payment Date:
August 30, 2024	$	87,920
September 30, 2024		21,980
October 30, 2024		21,980
November 30, 2024		21,980
December 30, 2024		21,980
Total	$	175,840

Schedule of Future Annual Maturities of Notes Payable

On March 31, 2024, future annual maturities of notes payable are as follows:

March 31,	Amount
2025	$	262,415
2026		33,979
2027		6,840
2028		7,558
2029		4,070
Total notes payable on March 31, 2024	$	314,862

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

C-Bond Systems, Inc 10-Q