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

INTEREST EXPENSE, NET

v3.23.2
INTEREST EXPENSE, NET
 12 Months Ended
Dec. 31, 2022
INTEREST EXPENSE, NET

NOTE 26 — INTEREST EXPENSE, NET

 

For the years ended December 31, 2022 and 2021, the Company earned interest income and incurred interest expense as follows:

    2022     2021  
    Years Ended December 31,  
    2022     2021  
Interest (expense) income                
Bank and other cash   $ 26,380   $ (74,081 )
Total interest (expense) income     26,380     (74,081 )
                 
Interest expense/finance costs                
Lease liabilities     (491,336 )     (131,291 )
Other interest paid – loans     (847,520 )     (103,357 )
Amortization of debt discount     —       (140,837 )
Total interest expense/ finance costs     (1,338,856 )     (375,485 )
Total interest (expense), net    $ (1,312,476 )   $ (449,566 )