NOTE PAYABLE (Details Narrative) - USD ($) |
12 Months Ended | |||||
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Sep. 09, 2021 |
Dec. 31, 2022 |
Dec. 31, 2021 |
Dec. 31, 2020 |
May 07, 2020 |
Apr. 29, 2020 |
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NOTE PAYABLE | ||||||
Paycheck protection program loan amount | $ 121,700 | $ 121,700 | ||||
Accrued Interest Paycheck Protection | 1,653 | $ 820 | ||||
Interest Due | $ 122,520 | |||||
Debt Principal | $ 121,700 | |||||
Principal amount | $ 121,700 | |||||
PPP Loan, interest accrues on outstanding principal rate | 1.00% | |||||
Description of short term loan | The note in the amount of $628,600 carried a 4.15% annual percentage rate and was paid down in nine equal payments of $71,058 beginning in March 2022. The loan was fully paid off, and there was no remaining principal balance as of December 31, 2022. | |||||
Loan amount eligible payroll costs, percentage rate | 60.00% | |||||
Offset interest expense | $ 833 |
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- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Increase for accrued, but unpaid interest on the debt instrument for the period. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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