| Schedule of Notes Payable |
Notes Payable – Third Parties
| |
|
September 30, |
|
|
December 31, |
|
| |
|
2019 |
|
|
2018 |
|
| Loan payable under prepaid forward purchase contract (1) |
|
$ |
- |
|
|
$ |
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 |
|
|
|
1,741,893 |
|
| |
|
|
|
|
|
|
|
|
| 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 |
|
|
335,818 |
|
|
|
341,612 |
|
| |
|
|
|
|
|
|
|
|
| Note payable to Anthony O’Killough dated September 27, 2019 in the original principal amount of $1.9 million. Interest is due only upon event of default. Issued net of $0.3 million of debt discount and $0.1 million of financing fees with $1.0 million of principal due on November 8, 2019 and $0.9 million of principal due December 26, 2019 |
|
|
1,527,821 |
|
|
|
- |
|
| |
|
|
3,605,532 |
|
|
|
7,083,505 |
|
| Less current portion |
|
|
(3,605,532 |
) |
|
|
(7,083,505 |
) |
| Notes payable - third parties, net of current portion |
|
$ |
- |
|
|
$ |
- |
|
| |
(1) |
The loan payable under prepaid forward purchase contract has been fully settled during the nine months ended September 2019 as more fully discussed below under the heading “Notes Payable –Related Party”. |
|
| Schedule of Notes Payable - Related Parties |
Notes Payable – Related Party
| |
|
September 30, 2019 |
|
|
December 31, 2018 |
|
| |
|
|
|
|
|
|
| Loan payable to Christopher Diamantis |
|
$ |
14,968,104 |
|
|
$ |
800,000 |
|
| |
|
|
|
|
|
|
|
|
| Total notes payable, related party |
|
|
14,968,104 |
|
|
|
800,000 |
|
| |
|
|
|
|
|
|
|
|
| Less current portion of notes payable, related party |
|
|
(14,968,104 |
) |
|
|
(800,000 |
) |
| Total notes payable, related party, net of current portion |
|
$ |
- |
|
|
$ |
- |
|
|