| Schedule of convertible notes payable |
| Schedule of convertible notes payable | |
| |
| |
| |
| |
| | | |
| | |
| | |
Conversion price per
share | |
Interest rate | |
Effective
rate(1) | |
Due date | |
March 31, 2025 | | |
December 31, 2024 | |
| SJC convertible promissory note | |
75% of 5-day VWAP | |
15% | |
15% | |
December 31, 2025 | |
$ | 4,909,000 | | |
$ | - | |
| ROI senior secured convertible note, in default | |
$0.11 (ROI stock) | |
OID Only | |
21% | |
May 15, 2025 | |
| 4,245,000 | | |
| 4,245,000 | |
| Orchid convertible promissory note | |
75% of 5-day VWAP | |
15% | |
15% | |
June 30, 2025 | |
| 4,087,000 | | |
| - | |
| 10% original issue discount (“OID”) convertible promissory note | |
$5.87 | |
18% | |
18% | |
May 15, 2025 | |
| 3,503,000 | | |
| 4,167,000 | |
| Forbearance convertible promissory note, in default | |
$2.00 | |
18% | |
18% | |
May 15, 2025 | |
| 3,500,000 | | |
| 853,000 | |
| Convertible promissory note – OID only, in default | |
90% of 5-day VWAP | |
OID Only | |
0% | |
September 28, 2024 | |
| 393,000 | | |
| 393,000 | |
| AVLP convertible promissory notes, principal | |
$0.35 (AVLP stock) | |
7% | |
- | |
August 22, 2025 | |
| - | | |
| 9,911,000 | |
| Fair value of embedded conversion options | |
| |
| |
| |
| |
| 2,269,000 | | |
| - | |
| Total convertible notes payable | |
| |
| |
| |
| |
| 22,906,000 | | |
| 19,569,000 | |
| Less: unamortized debt discounts | |
| |
| |
| |
| |
| - | | |
| - | |
| Total convertible notes payable, net of financing cost, long-term | |
| |
$ | 22,906,000 | | |
$ | 19,569,000 | |
| Less: current portion | |
| |
| |
| |
| |
| (22,906,000 | ) | |
| (19,569,000 | ) |
| Convertible notes payable, net of financing cost – long-term portion | |
| |
$ | - | | |
$ | - | |
| (1) |
Includes
forbearance and extension fees and OID costs that are amortized to interest expense over the life of the notes. |
|