Quarterly report pursuant to Section 13 or 15(d)

Debt and Other Financing Arrangements (Tables)

v3.19.3
Debt and Other Financing Arrangements (Tables)
9 Months Ended
Sep. 30, 2019
Debt Disclosure [Abstract]  
Schedule of Debt

 

 

September 30,

2019

 

 

December 31,

2018 (Audited)

 

Financing agreement with FlatIron capital that is unsecured.  Down payment of $28,125 was required upfront and equal installment payments of $8,701 to be made over a 11 month period. The note matures May 31, 2019. Annualized interest is 5.99%

 

$

-

 

 

$

42,875

 

 

 

 

 

 

 

 

 

 

Financing agreement with FlatIron capital that is unsecured.  Down payment of $19,170 was required upfront and equal installment payments of $11,590 to be made over a 10 month period. The note matures June 1, 2020. Annualized interest is 6.8%

 

$

104,310

 

 

 

-

 

 

 

 

 

 

 

 

 

 

Senior secured convertible note to Craven House Capital North America LLC (Related Party), bearing interest at 3.0%.  Note was issued on January 16, 2019 and matures on either January 14, 2020 or convertible into 1,436,424 shares of the Company's common shares. The beneficial conversion feature as of January 16, 2019 was zero.

 

 

3,461,782

 

 

 

-

 

 

 

 

 

 

 

 

 

 

Promissory note issued by a financial institution, bearing interest at 9.09%, interest and principal payments due monthly of $323.  Note was issued on July 26, 2019 with original borrowings of $12,892.  The note mature son August 26, 2023.

 

 

12,428

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Promissory note issued by a financial institution, bearing interest at 5.85%, interest and principal payments due monthly of $10,932. Note was issued on May 31, 2018 with original borrowings of $608,000 and subsequent borrowings of $141,000 and repayments of $51,000.  The note matures on May 30, 2025 and can be prepaid at any time without penalty. This note is secured by the Company’s inventory, chattel paper, accounts, equipment and general intangible intangibles and deposit accounts.

 

 

630,049

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

4,208,569

 

 

$

42,875