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

INTEREST EXPENSE, NET

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INTEREST EXPENSE, NET
 12 Months Ended
Dec. 31, 2023
Notes and other explanatory information [abstract]  
INTEREST EXPENSE, NET

NOTE 27 — INTEREST EXPENSE, NET

 

For the years ended December 31, 2023 and 2022, the Company earned interest income and incurred interest expense as follows:

 

    2023     2022     2021  
   

Year Ended December 31,

  
    2023     2022     2021  
Interest (Expense) income                        
Bank and other cash   $ 45,104     $ 26,380       (74,081 )
Total interest income     45,104       26,380       (74,081 )
                         
Interest expense/finance costs                        
Lease liabilities     (787,340 )     (491,336 )     (131,291 )
Other interest paid – loans     (2,952,277 )     (847,520 )     (103,357 )
Amortization of debt discount     -       -       (140,837 )
Total interest expense/ finance costs     (3,739,617 )     (1,338,856 )     (375,485 )
Total interest (expense), net   $ (3,694,513 )   $ (1,312,476 )     (449,566 )