Annual report pursuant to Section 13 and 15(d)

Notes Payable (Tables)

v3.19.3
Notes Payable (Tables)
12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Schedule of Notes Payable

Notes Payable – Third Parties

 

    December 31, 2018     December 31, 2017  
Loan payable under prepaid forward purchase contract   $ 5,000,000     $ 5,000,000  
                 
Loan payable to TCA Global Master Fund, LP (“TCA”) in the original principal amount of $3 million at 16% interest (the “TCA Debenture”). Principal and interest payments due in various installments through December 31, 2017     1,741,893       1,616,218  
                 
Notes payable to CommerceNet and Jay Tenenbaum in the original principal amount of $500,000, bearing interest at 6% per annum (the “Tegal Notes”). Principal and interest payments due annually from July 12, 2015 through July 12, 2017     341,612       341,612  
                 
      7,083,505       6,957,830  
Less current portion     (7,083,505 )     (6,957,830 )
Notes payable - third parties, net of current portion   $ -     $ -  
Schedule of Notes Payable - Related Parties

Notes Payable – Related Parties

 

    December 31, 2018     December 31, 2017  
             
Loan payable to Alcimede LLC, bearing interest at 6% per annum, with all principal and interest due August 2, 2018   $ -     $ 168,500  
                 
Loan payable to Christopher Diamantis     800,000       960,000  
                 
Total notes payable, related parties   800,000     1,128,500  
                 
Less current portion of notes payable, related parties   (800,000 )   (1,128,500 )
Total notes payable, related parties long-term   $ -     $ -