Convertible Notes (Related and Unrelated Party) |
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Convertible Notes (Related and Unrelated Party) | Note 7. Convertible Notes (Related and Unrelated Party)
As of September 30, 2021, the Company settled all outstanding convertible note which included the $1,071,000 Series CN Note 1 noteholders. The debt settlement consisted of debt converted to company stock of $231,000 ($30,000 related party) in principal and $192,663 ($37,689 related party) in interest into shares of common stock, and debt in the amount of $840,000 ($180,000 related party) was repaid.
The convertible notes consist of the following components as of September 30, 2021 and December 31, 2020:
As of September 30, 2021, the Company settled all outstanding convertible note holders which included the $168,000 Series CN Note 2 noteholders. The debt settlement consisted of debt converted to company stock of $168,000 in principal and $41,747 in interest into shares of common stock.
The convertible notes consist of the following components as of September 30, 2021 and December 31, 2020:
The total of $1,167,042 shown in the two tables above at December 31, 2020, are presented in the balance sheet as Current Liabilities: $158,243 Convertible Note-Net of Discount and Long-Term Liabilities: Convertible Note – related party net of Discount of $197,804, and Convertible Note – net of Discount $810,995.
Barfresh Food Group Inc. Notes to Condensed Consolidated Financial Statements September 30, 2021 (Unaudited)
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