RELATED PARTY NOTES PAYABLE

6 Months Ended

Jun. 30, 2021

Related Party Notes Payable

RELATED PARTY NOTES PAYABLE

NOTE 7 – RELATED PARTY NOTES PAYABLE

Related party notes payable, consisted of the following as of:

	June 30, 2021			December 31, 2020
In thousands
Note payable –Marin	$	540		$	660
Note payable –Thomet		338			413
Note payable–Shareholder Convertible Note		-			43
Total notes payable		878			1,116
Less current portion		(390	)		(433	)
Long-term portion	$	488		$	683

Note Payable -Marin

In December 2017, we entered into a $660 thousand, 1.89% annual interest rate note payable (the “Marin Note”) with two individuals from whom we previously acquired their company (in 2014). The Marin Note is payable in 60 monthly principal payments of $20 thousand beginning in October 2018. Accrued interest payable as of June 30, 2021, was $60 thousand. Accrued interest is payable at maturity.

Note Payable – Thomet

In December 2017, we entered into a $750 thousand, zero percent annual interest rate note payable (the “Thomet Note”) with an individual from whom we previously acquired his company (in 2014). The Thomet Note is payable in 60 monthly principal payments of $13 thousand beginning in October 2018.

Note Payable – Shareholder Convertible Note

In October 2018, we entered into a $700 thousand, 6% annual interest rate convertible note payable (the “Shareholder Convertible Note”) with Walefar and Campbeltown (collectively the “Holders”), in connection with the HTS Image Processing, Inc. Mr. Shai Lustgarten, our Chief executive Officer and Director is the principal shareholder in Walefar. Mr. Carlos J. Nissensohn, a consultant and significant shareholder in OMNIQ, is the principal shareholder in Campbeltown. The Shareholder Convertible Note was retired in 2021.

Future maturities of related party notes payable as of June 30, 2021, are as follows:

In thousands

2021		195
2022		390
2023		293
2024		-
Thereafter		-
Total	$	878