Convertible Promissory Notes and Notes Payable (Table)

6 Months Ended

Dec. 31, 2022

Convertible Promissory Notes and Notes Payable

Schedule Convertible Promissory Notes and Notes Payable

	Maturity Date	December 31, 2022
Convertible Notes, 36-month term notes, 0% cash interest, collateralized with all the assets of the Company	October 31, 2025	$	3,500,000
Subordinated Promissory Notes, 24-month term notes, 4% cash interest, collateralized with all the assets of the Company	October 31, 2024		5,750,000
Subordinated Promissory Notes, 12-month term notes, 4% cash interest, collateralized with all the assets of the Company	October 31, 2023		5,750,000
Marshall Loan, 2-year term note, 8.5% cash interest, 3.5% PIK interest and subordinate to the Convertible Notes	June 28, 2024		1,394,234
Mortgage Loan, 10-year term note, 4.8% interest, collateralized by land and warehouse building	September 26, 2032		2,961,061
Capital lease, warehouse equipment under a five-year lease, interest rate of 5%	November 7, 2026		25,961
Cygnet Loan, 1-year term note, 6% interest and is convertible at $6.00 per share	April 15, 2023		1,050,000
SBA note payable, 30-year term note, 6% interest rate and collateralized with all assets of the Company	October 6, 2031		4,045,405
Inventory consignment note, 60 monthly payments, with first payment due June 30, 2022, 3.5% interest rate and no security interest in the assets of the business	June 30, 2027		1,211,174
GF Note, 6 annual payments, with first payment due December 31, 2022, 3.5% interest rate and no security interest in the assets of the business	November 7, 2026		850,000
Total notes payable			26,537,835
Less current portion of notes payable			2,117,683
Notes payable, net of current portion		$	24,420,152

Schedule Future payments on notes payable

For the year ended June 30:
2023	$	2,117,683
2024		7,718,839
2025		9,197,443
2026		2,328,946
2027		1,069,333
Thereafter		4,211,357
	$	26,643,601
Convertible notes, original discount and related fees and costs		(105,766	)
	$	26,537,835