| Notes Payable |
NOTE 7. NOTES PAYABLE
Outstanding promissory notes and other notes
payable consisted of the following:
| |
|
June 30, 2018 |
|
|
December 31, 2017 |
|
| |
|
|
|
|
|
|
| Vendor notes issued to settle litigation, bearing interest rates between 0% and 6% per annum, terms range from 1 to 48 months. |
|
$ |
629 |
|
|
$ |
890 |
|
| |
|
|
|
|
|
|
|
|
| Short-term agreements, due between one and six months |
|
|
4,120 |
|
|
|
7,315 |
|
| |
|
|
|
|
|
|
|
|
| Short-term notes payable bearing interest at stated rates between 4% and 12% per annum. Terms range from 3 to 36 months |
|
|
12,725 |
|
|
|
5,214 |
|
| |
|
|
|
|
|
|
|
|
| Obligations under capital leases, bearing interest rates between 4.1% and 8.2% per annum, secured by equipment having a value that approximates the debt value. Terms range from 48 to 60 months. |
|
|
465 |
|
|
|
695 |
|
| |
|
|
|
|
|
|
|
|
| Various Equipment notes, bearing interest rates between 2% and 41% per annum, secured by equipment having a value that approximates the debt value. Terms range from 30 to 72 months |
|
|
1,350 |
|
|
|
1,507 |
|
| |
|
|
|
|
|
|
|
|
| Total Notes Payables |
|
|
19,289 |
|
|
|
15,621 |
|
| Less: Original issue discount and deferred financing costs |
|
|
(3,329 |
) |
|
|
(3,138 |
) |
| Notes payable, net of original issue discount and deferred financing costs |
|
|
15,960 |
|
|
|
12,483 |
|
| Less: Current portion |
|
|
(14,343 |
) |
|
|
(10,488 |
) |
| Total Notes non-current portion |
|
$ |
1,617 |
|
|
$ |
1,995 |
|
During the six months ended June 30, 2018,
the Company issued short-term agreement and notes payable in an aggregate of $13,698 net of original issue discounts of $4,843
and deferred financing costs of $1,000. The short-term agreements and promissory notes payable are unsecured, bear interest between
4% and 12% per annum and mature between three months and three years. During the six months ended June 30, 2018, the Company repaid
a total of $14,336 in cash and issued an aggregate of 277,536 shares of common shares for the payment of $1,928 in promissory
note principal and accrued interest.
|