| Schedule Future payments on notes payable |
Future payments on notes payable are as follows: | | | | | | | | For the year ended June 30: | | | | 2022 | | $ | 5,424,752 | | 2023 | | | 4,574,305 | | 2024 | | | 3,066,787 | | 2025 | | | 872,940 | | 2026 | | | 764,673 | | Thereafter | | | 2,292,021 | | | | $ | 16,995,478 | | | | | | | Marshall Loan, related party and received July 31, 2022 | | | (1,500,000 | ) | Convertible note, remaining holdback not received | | | (500,000 | ) | Convertible note, original discount and related fees and costs | | | (694,594 | ) | | | $ | 14,300,884 | |
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| Schedule Convertible Promissory Notes and Notes Payable |
| | Maturity Date | | June 30, 2022 | | 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 | | Marshall Loan, 3-year term note, 8.5% cash interest, 3.5% PIK interest and subordinate to the Convertible Notes | | June 28, 2025 | | | - | | VitaMedica Loan, 1-year term note, 6% interest and is convertible at $5.00 per share. The note was fully repaid in August 2022. | | 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 | | SBA note payable, 30-year term note, 6% interest rate and collateralized with all assets of the Company | | October 6, 2031 | | | 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 | | | 1,379,230 | | 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 | | | 850,000 | | Total notes payable | | | | | 14,300,884 | | Less current portion of notes payable | | | | | 5,424,752 | | Notes payable, net of current portion | | | | $ | 8,876,132 | |
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