Registration statement for securities of certain foreign private issuers

INTEREST EXPENSE, NET (Tables)

v3.23.3
INTEREST EXPENSE, NET (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2023
Dec. 31, 2022
Notes and other explanatory information [abstract]    
SCHEDULE OF COMPANY EARNED INTEREST INCOME AND INCURRED INTEREST EXPENSE

For the six months ended June 30, 2023 and June 30, 2022, the Company earned interest income and incurred interest expense as follows:

    2023     2022  
    Six months Ended June 30,  
    2023     2022  
Interest (expense) income                
Bank and other cash   $ 32,328     $ 10,418  
Total interest (expense) income     32,328       10,418  
                 
Interest expense/finance costs                
Lease liabilities     (427,134 )     (58,026 )
Other interest paid – loans     (1,604,555 )     (51,690 )
Amortization of debt discount     —       —  
Total interest expense/ finance costs     (2,031,689 )     (109,716 )
Total interest (expense), net    $ (1,999,361 )   $ (99,298 )

 

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 )