ROYALTY OBLIGATIONS NET (Details Narrative) - USD ($) |
3 Months Ended | 6 Months Ended | 12 Months Ended | |||
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Jan. 03, 2022 |
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
Dec. 31, 2021 |
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Interest expense amortization | $ 118,554 | $ 118,554 | $ 233,888 | $ 233,888 | $ 115,334 | |
Non-cash interest expense | $ 7,171,200 | |||||
Common stock shares issued, descripiton | other one was with the J and R Galligan Revocable Trust, managed by Mr. Galligan, a holder of between 10% and 15% of the Company’s shares of common stock | |||||
Expected life of the arrangement | 15 years | |||||
Royalty agreements description | Each party would purchase shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), in the aggregate amount of $3,000,000 at a purchase price of $15.00 per share (the “Purchase Price”), for a total of 200,000 shares of Common Stock; and (ii) the Company shall pay each (a) a total of $37.50 from the gross revenue derived from each of its weight loss treatments sold | |||||
Ownership percentage | 50.00% | |||||
Minimum [Member] | Joseph Galligan [Member] | ||||||
Ownership percentage | 10.00% | 10.00% | ||||
Maximum [Member] | Joseph Galligan [Member] | ||||||
Ownership percentage | 15.00% | 15.00% |
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- Definition Amount of expense or loss included in net income that result in no cash flow, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Percentage of the Variable Interest Entity's (VIE) voting interest owned by (or beneficial interest in) the reporting entity (directly or indirectly). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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