Convertible Promissory Notes and Notes Payable (Table)

9 Months Ended

Mar. 31, 2023

Convertible Promissory Notes and Notes Payable

Schedule Convertible Promissory Notes and Notes Payable

	Maturity Date	March 31, 2023
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		1,401,734
Mortgage Loan, 10-year term note, 4.8% interest, collateralized by land and warehouse building	September 26, 2032		2,902,256
Promissory Note, 21- month term note, 18.11% interest payable with common stock and subordinate to the Convertible Notes	November 22, 2024		2,150,000
Promissory Note, 21-month term note, 10% cash interest and subordinate to the Convertible Notes	November 22, 2024		503,714
SBA note payable, 30-year term note, 6% interest rate and collateralized with all assets of the Company	October 6, 2031		3,961,444
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		1,138,094
Line of Credit, $10,000,000 inventory and accounts receivable line of credit, interest rate of prime minus ½% payable monthly, $4,935,545 available at March 31, 2023			374,741
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		683,968
Total notes payable			28,115,951
Less current portion of notes payable			9,164,189
Notes payable, net of current portion		$	18,951,762

Schedule Future payments on notes payable

For the year ended June 30:
2023	$	1,383,520
2024		9,056,433
2025		10,537,645
2026		2,326,625
2027		994,333
Thereafter		3,971,947
	$	28,270,503
Convertible notes, original discount and related fees and costs		(154,552	)
	$	28,115,951