Convertible Promissory Notes and Notes Payable (Table)

12 Months Ended

Jun. 30, 2023

Convertible Promissory Notes and Notes Payable

Schedule Convertible Promissory Notes and Notes Payable

	Maturity	June 30,			June 30,
	Date	2023			2022
Convertible Notes:
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		$	-
Convertible Notes, 3-year term note, 8.5% cash interest, 3.5% PIK interest and collateralized with all the assets of the Company	June 28, 2025		-			6,305,406
Less current portion of notes payable			1,254,167			3,125,000
Notes payable, net of current portion		$	895,833		$	3,180,406
Acquisition Notes:
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			-
VitaMedica Loan, 1-year term note, 6% interest and is convertible at $5.00 per share	August 1, 2022		-			500,000
Cygnet Loan, 1-year term note, 6% interest and is convertible at $6.00 per share	April 15, 2023		-			1,050,000
Total		$	15,000,000		$	1,550,000
Discount on acquisition notes payable, current			(93,380	)		-
Acquisition notes payable, current			5,750,000			1,550,000
Acquisition notes payable, current net		$	5,656,620		$	1,550,000
Discount on acquisition notes payable, long-term			(1,644,915	)		-
Acquisition notes payable, long-term			9,250,000			-
Acquisition notes payable, long-term net		$	7,605,085		$	-
Notes Payable:
Marshall Loan, 2-year term note, 8.5% cash interest, 3.5% PIK interest and subordinate to the Convertible Notes	June 28, 2024		1,500,000			-
Mortgage Loan, 10-year term note, 4.8% interest, collateralized by land and warehouse building	September 26, 2032		2,841,566
Promissory Note, 21-month term note, 10% cash interest and subordinate to the Convertible Notes	November 22, 2024		560,000
SBA note payable, 30-year term note, 6% interest rate and collateralized with all assets of the Company	October 6, 2021		3,910,767			4,216,248
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		1,099,592			1,379,230
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			850,000
Total notes payable			10,595,893			6,445,478
Discount on notes payable, current			(94,836	)		-
Notes payable, current			2,826,213			749,752
Notes payable, current net		$	2,731,377		$	749,752
Discount on acquisition notes payable, long-term			(23,522	)		-
Notes payable, long-term			7,769,679			5,695,726
Notes payable, long-term, net		$	7,746,157		$	5,695,726
Total convertible notes payable, acquisition notes payable and notes payable		$	25,889,239		$	14,330,884

Schedule Future payments on notes payable

For the year ended June 30:
	Note Payable		Convertible Notes			Acquisition Notes Payable			Total
2024	$	2,826,213	$	1,254,167		$	5,750,000		$	9,830,380
2025		1,314,931		895,833			5,750,000			7,960,764
2026		1,130,403					3,500,000			4,630,403
2027		1,052,943								1,052,943
2028		784,450								784,450
Thereafter		3,486,952								3,486,952
	$	10,595,892	$	2,150,000		$	15,000,000		$	27,745,892
Note original discount	$	-	$	(118,358	)	$	(1,738,295	)	$	(1,856,653	)
	$	10,595,892	$	2,031,642		$	13,261,705		$	25,889,239