Duos Technologies Group, Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

DEBT (Tables)

DEBT (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Notes Payable - Financing Agreements

The Companys notes payable relating to financing agreements classified as current liabilities consist of the following as of:


		December 31, 2020								December 31, 2019
Notes Payable		Principal					Interest			Principal					Interest
Third Party - Insurance Note 1		$	23,327				7.75	%		$	28,500				7.31	%
Third Party - Insurance Note 2			10,457				5.26	%							6.36	%
Third Party - Insurance Note 3			9,158								13,799
Third Party - Insurance Note 4
Total		$	42,942							$	42,299

Schedule of Future Minimum Lease Payments Under Finance Lease

At December 31, 2020, future minimum note payments due under the equipment financing agreements are as follows:


As of December 31,		Amount
2021		$	106,588
2022			86,735
2023			23,515
Total minimum equipment financing payments		$	216,838
Less: interest			(24,034	)
Total equipment financing at December 31, 2020		$	192,804
Less: current portion of equipment financing			(89,620	)
Long-term portion of equipment financing		$	103,184

Notes Payable - Related Parties

Notes Payable Related Parties


										December 31, 2020								December 31, 2019
Payable To										Principal				Interest				Principal				Interest

Related party										$								$	267,000				3%
Related party																			733,000				3%
Total																			1,000,000
Less unamortized discounts																			(94,627	)
Total, net										$								$	905,373

Schedule of Notes Payable - SBA Loan

Notes Payable SBA Loan


										December 31, 2020								December 31, 2019
Payable To										Principal				Interest				Principal				Interest

SBA loan										$	1,410,270				1%			$
Total											1,410,270
Less current portion											(627,465	)
Long-term portion										$	782,805							$