Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

INTEREST EXPENSE, NET

v3.22.1
INTEREST EXPENSE, NET
12 Months Ended
Dec. 31, 2021
INTEREST EXPENSE, NET  
INTEREST EXPENSE, NET

NOTE 24 — INTEREST EXPENSE, NET

For the years ended December 31, 2021 and 2020, the Company earned interest income and incurred interest expense as follows:

    

For the Years Ended December 31,

   

2021

   

2020

Interest (expense) income

Bank and other cash

$

(74,081)

$

55,649

Total interest (expense) income

 

(74,081)

 

55,649

Interest expense/finance costs

Lease liabilities

 

131,291

 

131,291

Other interest paid – loans

 

103,357

 

455,394

Amortization of debt discount

 

140,837

 

322,947

Total interest expense/ finance costs

 

375,485

 

909,632

Total interest (expense), net

$

(449,566)

$

(853,983)