In a large bowl, place the ground beef, egg, breadcrumbs, minced garlic, chopped parsley, oregano, salt, and pepper. Mix using your hand just until well combined. Don't overwork the meat or your meatballs will turn out tough
Divide the meat mixture into approximately 22 meatballs (about 2tbsp each). For easier shaping, wet your hands slightly so the mixture doesn't stick to them.
Make the soup base by blending the tomatoes, onion, garlic, and ½ cup of the beef (or chicken) broth until smooth
Heat the olive oil in a large pot and add the tomato sauce. "Fry" for about 2 minutes, then add the rest of the beef or chicken broth. Season with salt and pepper and add two bay leaves.
Bring the broth to a boil and carefully add the meatballs one at a time. Reduce the heat and simmer for 10 minutes or until the meatballs are cooked
Add the rice and diced veggies and cook until the rice is cooked through, about 10-15 minutes
Add freshly chopped cilantro and serve while hot!