COVID Loans

6 Months Ended

Jun. 30, 2024

Covid Loans

COVID Loans

Note 4 – COVID Loans

The Company assumed the obligations for two COVID Loans originally made by the SBA to senseFly S.A. on July 27, 2020 (“senseFly COVID Loans”). As of senseFly Acquisition Date, the fair value of the COVID Loan was $1,440,046 (“senseFly COVID Loans”). For the three and six months ended June 30, 2024, senseFly S.A. made the required payments on the senseFly COVID Loans, including principal and accrued interest, aggregating approximately $55,693 and $213,517, respectively. As of June 30, 2024, the Company’s outstanding obligations under the senseFly COVID Loans are $614,172. On August 25, 2023, the Company modified one (1) of its existing agreements to extend the repayment period of the COVID Loan from a maturity date of December 2023 to June 2025. The other COVID loan remains unchanged.

As of June 30, 2024, scheduled principal payments due under the senseFly COVID Loans are as follows:

Year ending December 31,
2024 (rest of year)	$	155,935
2025		183,086
2026		91,727
2027		183,424
Total	$	614,172

AGEAGLE AERIAL SYSTEMS INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JUNE 30, 2024 AND 2023

(UNAUDITED)