| Notes Payable |
NOTE 7. NOTES PAYABLE
Outstanding promissory notes and other notes
payable consisted of the following:
| |
|
September 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. |
|
$ |
491 |
|
|
$ |
890 |
|
| |
|
|
|
|
|
|
|
|
| Short-term agreements, due between one and six months |
|
|
8,755 |
|
|
|
7,315 |
|
| |
|
|
|
|
|
|
|
|
| Short-term notes payable bearing interest at stated rates between 4% and 12% per annum. Terms range from 3 to 36 months |
|
|
14,258 |
|
|
|
5,174 |
|
| |
|
|
|
|
|
|
|
|
| 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. |
|
|
386 |
|
|
|
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 |
|
|
1,275 |
|
|
|
1,507 |
|
| |
|
|
|
|
|
|
|
|
| Total Notes Payables |
|
|
25,165 |
|
|
|
15,581 |
|
| Less: Original issue discount and deferred financing costs |
|
|
(6,277 |
) |
|
|
(3,138 |
) |
| Notes payable, net of original issue discount and deferred financing costs |
|
|
18,888 |
|
|
|
12,443 |
|
| Less: Current portion |
|
|
(17,474 |
) |
|
|
(10,488 |
) |
| Total Notes non-current portion |
|
$ |
1,414 |
|
|
$ |
1,955 |
|
During the nine months ended September 30,
2018, the Company issued short-term agreements and promissory notes payable in the aggregate of $37,203 net of original issue
discounts of $9,606 and deferred financing costs of $1,828. The short-term agreements and promissory notes payable are unsecured,
bear interest between 4% and 12% per annum and mature between three months and one year. During the nine months ended September
30, 2018, the Company repaid a total of $20,636 in cash and issued an aggregate of 394,173 shares of common shares for the payment
of $2,784 in promissory note principal and accrued interest.
|