DEBT (Tables)
|
3 Months Ended |
12 Months Ended |
Mar. 31, 2021 |
Dec. 31, 2020 |
| Debt Disclosure [Abstract] |
|
|
| Schedule of Notes Payable - Financing Agreements |
The
Company’s notes payable relating to financing agreements classified as current liabilities consist of the following as of:
| |
|
March
31, 2021 |
|
|
December
31, 2020 |
|
| Notes
Payable |
|
Principal |
|
|
Interest |
|
|
Principal |
|
|
Interest |
|
| Third Party -
Insurance Note 1 |
|
$ |
16,486 |
|
|
|
7.75 |
% |
|
$ |
23,327 |
|
|
|
7.75 |
% |
| Third Party - Insurance Note
2 |
|
|
— |
|
|
|
5.26 |
% |
|
|
10,457 |
|
|
|
5.26 |
% |
| Third Party - Insurance Note
3 |
|
|
5,250 |
|
|
|
— |
|
|
|
9,158 |
|
|
|
— |
|
| Third
Party - Insurance Note 4 |
|
|
215,654 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Total |
|
$ |
237,390 |
|
|
|
|
|
|
$ |
42,942 |
|
|
|
|
|
|
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
| |
|
March
31, 2021 |
|
December
31, 2020 |
|
| Payable
To |
|
Principal |
|
Interest |
|
Principal |
|
|
Interest |
|
| |
|
|
|
|
|
|
|
|
|
|
| SBA
loan |
|
$ |
— |
|
|
|
$ |
1,410,270 |
|
|
|
1 |
% |
| Total |
|
|
— |
|
|
|
|
1,410,270 |
|
|
|
|
|
| Less
current portion |
|
|
— |
|
|
|
|
(863,845 |
) |
|
|
|
|
| Long
term portion |
|
$ |
— |
|
|
|
$ |
546,425 |
|
|
|
|
|
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
|
|
|
|
|
|
|
$
|
|
|
|
|
|
|
|
| Schedule of Notes Payable - Finance Lease |
At
March 31, 2021, future minimum lease payments due under the equipment financing is as follows:
| As of December 31, |
|
Amount |
|
| 2021 |
|
$ |
79,941 |
|
| 2022 |
|
|
86,735 |
|
| 2023 |
|
|
23,515 |
|
| Total minimum equipment financing
payments |
|
$ |
190,191 |
|
| Less:
interest |
|
|
(18,839 |
) |
| Total
equipment financing at March 31, 2021 |
|
$ |
171,352 |
|
| Less:
current portion of equipment financing |
|
|
(92,224 |
) |
| Long
term portion of equipment financing |
|
$ |
79,128 |
|
|
|