Duos Technologies Group, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

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							$