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Original issue discount promissory note

Write A Promissory Note With Our Premium Fillable Templates- Finish & Print In Minutes! Detect Errors & Save Time On Your Forms. Customize Your Template Instantly. Try Free An original issue discount (OID) is the discount in price from a bond's face value at the time a bond or other debt instrument is first issued. Bonds can be issued at a price lower than their face.. THE PRINCIPAL SUM DUE TO LENDER SHALL BE PRORATED BASED ON THE CONSIDERATION ACTUALLY PAID BY LENDER (PLUS AN APPROXIMATE 10% ORIGINAL ISSUE DISCOUNT THAT IS PRORATED BASED ON THE CONSIDERATION ACTUALLY PAID BY THE LENDER AS WELL AS ANY OTHER INTEREST OR FEES) SUCH THAT THE BORROWER IS ONLY REQUIRED TO REPAY THE AMOUNT FUNDED AND THE BORROWER IS NOT REQUIRED TO REPAY ANY UNFUNDED PORTION OF THIS NOTE THIS ORIGINAL ISSUE DISCOUNT SENIOR CONVERTIBLE PROMISSORY NOTE is one of a series of duly authorized and validly issued Original Issue Discount Senior Convertible Promissory Note s issued at a 10% original issue discount by Transportation and Logistics Systems, Inc., a Nevada corporation (the Company) (this note, the Note and, collectively with the other notes of such series, the Notes)

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  1. 8% Original Issue Discount Promissory Note (the Note) filed by Spiral Toys Inc. on January 28th, 201
  2. Original issue discount. OID is the excess of an obligation's stated redemption price at maturity over its issue price (acquisition price for a stripped bond or coupon). In the case of a taxable obligation, a discount of less than 1 / 4 of 1% of the stated redemption price at maturity, multiplied by the number of full years from the date of.
  3. Sometimes promissory notes have no interest associated. In this case, the promissory note is issued at a discount to the amount received when the note is redeemed. Obtain the amount paid for the promissory note. For instance, if you gave the issuer $9,800, this is the amount you paid for the promissory note

A promissory note is a financial instrument that contains a written promise by one party (the note's issuer or maker) to pay another party (the note's payee) a definite sum of money, either on.. Because the note will pay $10,000 at maturity, the $400 in excess of the basis of $9,600 will be treated as original issue discount, described below. Q2 - When must interest be recognized by the creditor/investor A promissory note is a legal contract that sets out the terms of a loan and enforces the promise for a borrower to pay back a sum of money to a lender within a certain time period. Promissory notes are one of the simplest ways to obtain financing for your company. They are often basic documents with few formalities Original Issue Discount: This is an accounting issue that is boring, yet important. If a convertible debt deal includes warrants, the warrants must be paid for separately in order to avoid the OID issue. In other words, if the debt is for $100,000 and there is 20% warrant coverage, the IRS says that the warrants themselves have some value

THIS ORIGINAL ISSUE DISCOUNT CONVERTIBLE PROMISSORY NOTE is one of a series of duly authorized and validly issued Original Issue Discount Convertible Promissory Notes issued at a 10% original issue discount by Adhera Therapeutics, Inc., a Delaware corporation (the Company) (this note, the Note and, collectively with the other notes of such series, the Notes) If a bank issues a bond with a maturity price of $1,000 for $900, the original issue discount is $100, and the discount would be included in income as it accrues over the term of the bond. Please note, if the discount is less than one-quarter of an interest percentage (.0025) the discount may be considered de minimis discount and treated as zero A promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financing instrument and a debt instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms Because the note will pay $10,000 at maturity, the $400 in excess of the basis of $9,600 will be treated as original issue discount as described above. Keep in mind that the information and illustrations above are based on certain assumptions and address the tax consequences of very standard convertible notes; many convertible notes have far. This Note is being issued for an original issue discount, such that the Holder has paid $100,000 for this Note. This Note will not bear interest, except that, commencing on the date following the Maturity Date, this Note will bear interest at the rate of 9% per year, calculated on the basis of a 360-day year, and will accrue daily

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  1. ORIGINAL ISSUE DISCOUNT - DEFINITION • Colloquially, OID occurs when a debt instrument is issued for less than its face amount. • E.g., our bond was issued for $82 but its face amount is $100. • But it's more complicated: • OID = the excess (if any) of (A) the stated redemption price at maturity (SRPM), over (B) the issue price (IP)
  2. ing the precise amount of income that mus
  3. That leaves us with the original issue discount (OID) rules, and therein is the problem. Treas. Regs. §1.1273-1(b). Assume we have $100 loaned, and a promissory note that requires $100 of principal repayments over the term of the note, along with monthly interest payments at or above the required applicable federal rate. There is no OID.
  4. Original Issue Discount Tutorial: Note: It is standard practice to issue bonds that redeem for $1,000.00 - a zero coupon bond with a redemption value of $1,000.00 and a life of 5 years and a yield of 10% would be issued at a cost of $612.50. For comparison purposes it seemed easier to compare equivalent upfront cash outlays by an investor
  5. the issue price of this note is $225,000.00 (the issue price ). the amount of original issue discount on this note is $37,500.00. THE AMOUNT OF ORIGINAL ISSUE DISCOUNT ON THIS NOTE IS $37,500.00. THE ISSUE DATE OF THIS NOTE IS FEBRUARY 12, 2009
  6. able annual or periodical income that is subject to tax under sections 871(a)(1)(C) and 881(a)(3) to the extent provided in those sections and this paragraph (b)(3) if not otherwise excluded under paragraph (a) o
  7. ate sum of money to the other (the drawee, payee or beneficiary), either at a fixed or deter

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  1. e gross profit, con
  2. Original issue discount is a warrant term that refers to accounting. Essentially, to avoid this discount, you will need to be sure that warrants are paid for separately in a convertible debt deal. For instance, if the convertible note is for $200,000 and there is a 20 percent warrant, then the warrant possesses value according to the Internal.
  3. Such loan is evidenced by a secured convertible original issue discount promissory note (the Note) issued by the Company to VPEG on August 21, 2017. The Note reflects an original issue discount of $50,000 such that the principal amount of the VPEG Note is $550,000, notwithstanding the fact that the loan is in the amount of $500,000
  4. ex-10.2 4 xlrm_ex102.htm senior secured promissory note xlrm_ex102.htm. exhibit 10.2 . this note has been issued with original issue discount for u.s. federal income tax purposes. the issuer will make available to any holder of this note: (1) the issue price and issue date of the note, (2) the amount of original issue discount on the note, (3) the yield to maturity of the note, and (4.
  5. When an individual or business borrows money from another individual or entity, a promissory note is always utilized to ensure repayment of the loan amount. It is a vital legal instrument used by the lender to detail all the necessary stipulations regarding the amount of money loaned, the interest to be charged, the amount of the monthly payments and the repayment schedule

Original Issue Discount - OID Definitio

INFORMATION REGARDING THE AMOUNT OF ORIGINAL ISSUE DISCOUNT AND THE YIELD TO MATURITY OF THIS NOTE, THE HOLDER OF THIS NOTE SHOULD CONTACT THE ISSUER, WHICH WILL PROMPTLY MAKE SUCH INFORMATION AVAILABLE. Section 1. Loans. This promissory note (the Note) will correspond to a single loan secured b ed issue price of, and any accrued but unpaid qualified stated interest on, the note as determined under the orig-inal issue discount rules.11 The LLC's properties are revalued as of the time immediately after the conver-sion. The unrealized income, gain, loss, and deduction are allo-cated first to the capital accounts of the. the rate on the note, including the original issue discount (OID) determined under § 1274, will necessarily meet the safe harbor interest rate of between 100% and 130% of the applicable federal rate on the date the note was issued. See § 1.482-2(a)(2)(iii)(B). The amount of OID imputed under § 1274 will be subject t A debt instrument (bond, note, loan) is issued with original issue discount (OID) when, among other things, the instrument is issued (generally, the amount actually loaned) for less than the face.. this promissory note has been issued with original issue discount within the meaning of section 1273 of the internal revenue code of 1986, as amended. UPON WRITTEN REQUEST, THE COMPANY WILL PROMPTLY MAKE AVAILABLE TO ANY HOLDER OF THIS NOTE THE FOLLOWING INFORMATION: (1) THE ISSUE PRICE AND DATE OF THE NOTE, (2) THE AMOUNT OF ORIGINAL.

This amount is considered original issue discount. However, the original issue discount rules (discussed later) do not apply if the discount is less than one-fourth of 1% (0.0025) of the face amount, multiplied by the number of full years from the date of original issue to maturity. See De minimis OID, later. If the purchase price is determined. Any original issue discount which a loan is treated as having by reason of subparagraph (A) shall be in addition to any other original issue discount on such loan (determined without regard to subparagraph (A)). (c) Below-market loans to which section applie An amount of original issue discount is subject to tax with respect to a foreign beneficial owner of an obligation carrying original issue discount upon a sale or exchange of the obligation or when a payment is made on such obligation Original Issue Discount Exceptions -Short term debt obligations,  Defined in Code §1283 as any bond, debenture, note, certificate, or other evidence of indebtedness which has a fixed maturity date not more than 1 year from the date of issue  Special rules apply to certain short-term obligations under Code §§1281 and 128 Original issue discount is a warrant term that refers to accounting. Essentially, to avoid this discount, you will need to be sure that warrants are paid for separately in a convertible debt deal

Below-market loans can be offered at either a reduced interest rate (below the AFR) or completely interest free, as an original issue discount. The spread between the reduced interest rate and the market rate of interest (the AFR) is recognized as compensation to the employee and deducted as compensation expense by the employer In addition, $80,918 of the debt discount has been amortized to interest expense. On August 3, 2017, the Company issued a Convertible Promissory Note in favor of JSJ Investments, Inc. The principal amount of the loan is $60,000 with an original issue discount of $5,000 and carries an interest rate of 8% per annum On January 19, 2016 the Company issued a 5% original issue discount convertible promissory note with a principal balance of $111,111 with a one year maturity date. This convertible debenture converts at 70% of the lowest trading price during the 30 days prior to conversion. In December 2016 the note holder converted $15,700 of principle balance. FOR PURPOSES OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, THIS NOTE HAS BEEN ISSUED WITH ORIGINAL ISSUE DISCOUNT AND THE DATE OF ORIGINAL ISSUE OF THIS NOTE IS MARCH 19, 1999 Original issue discount Definition. A discount on the face value of a promissory note. Related Rules . Alert. The related rules section is for members only and includes a compilation of all the rules of law in Quimbee's database relating to this key term. To access the related rules,.

On May 17, 2019, the Company entered into a Convertible Promissory Note (Promissory Note) with Crown Bridge Partners, LLC (the Holder) for a total principal amount of up to $150,000 with cash proceeds of up to $124,500, resulting in an original issue discount of up to $25,500. The Promissory Note bears interest at 7% per annum (with. This Note carries an original issue discount of $50,000.00 (the OID), to cover the Holder's accounting fees, due diligence fees, monitoring, and/or other transactional costs incurred in. When notes, bonds, or other certificates of indebtedness are issued by a corporation or the Government at a discount and are later redeemed by the debtor at the face amount, the original discount is interest, except as otherwise provided by law. See also paragraph (b) of this section for the rules relating to Government bonds

Junior Convertible NOTE DUE December 5, 2016 THIS JUNIOR CONVERTIBLE NOTE is one of a series of duly authorized and validly issued Junior Convertible Notes issued at a 20% original issue discount by BTCS Inc., a Nevada corporation (the Company) (this note, the Note and, collectively with the other notes of such series, the Notes) 930) 10% original issue discount 5% senior convertible note due february 3, 2020 Parties: ONCBIOMUNE PHARMACEUTICALS, INC | SECURITIES COMMISSION Document Date: 8/6/201 Promissory Note Involving Nevada Governing Law Provided below are links to Promissory Note s with Nevada governing law clauses. Governing law provisions (also knows as choice of law or controlling law clauses) in contracts are frequently used by the agreement parties to specify which jurisdiction's laws will be applied to interpreting the. Original issue discount (3 days ago) Original Issue Discount (OID) is a type of interest that is not payable as it accrues. OID is normally created when a debt, usually a bond, is issued at a discount. In effect, selling a bond at a discount converts stated principal into a return on investment, or interest On June 2, 2016, the Company issued a Convertible Promissory Note in favor of JSJ Investments Inc. The principal amount of the loan is $55,000 (fifty five thousand dollars) with an original issue discount of $3,000 three thousand dollars) a payment of $2,000 (two thousand dollars)for the Note itself and it carries an interest rate of 8% per annum

$300,000 Promissory Note - Se

The Notes carry an original issue discount of $21,100, a transaction expense amount of $6,500, and a fee to J. H. Darbie & Co. of $21,150, for total debt of $221,000 (Debt). The Note has an amortization schedule of $19,550 on January 2, 2021 and monthly from February 2021 through January 2022 (d) Original Issue Discount; Tax Withholding. (i) This Note is being issued with original issue discount under Sections 1272 and 1273 of the United States Internal Revenue Code of 1986, as amended (the Code). For purposes of those provisions, the issue price of this Note with respec The Note has an original principal amount of $2,250,000, with an original issue discount of $250,000. It bears interest at a fixed rate of ten percent (10%), is convertible into shares of the Company's common stock, par value $0.000001 per share (the Common Stock) at a price of $3.00 per share (subject to adjustment as set forth in the.

original issue discount Senior Convertible PROMISSORY NOTE

THIS NOTE (Note or Exchange Note) is a duly authorized Promissory Note of FROZEN FOOD GIFT GROUP, INC. a corporation duly organized and existing under the laws of the State of Delaware (the Company), designated as the Company's 7% Convertible Note Due June 5, 2013 (Maturity Date) in the original principal amount of One. AMENDMENT NO. 1 TO SECURED CONVERTIBLE ORIGINAL ISSUE DISCOUNT PROMISSORY NOTE AND TO LOAN AGREEMENT filed by Victory Energy Corp on October 17th, 201

FBEC Worldwide PROMISSORY NOTE Exhibit 10.1 ORIGINAL ISSUE DISCOUNT CONVERTIBLE PROMISSORY NOTE Face Amount: $30,000.00 July 8, 2015 Purchase Price: $25,000.00 FOR VALUE RECEIVED, FBEC Worldwide, Inc., a Wyoming corporation (the Maker or Company), with its principal offices located at 1621 Central Avenue, Cheyenne, WY 95975 promises to pay to. In general, a convertible promissory note with warrants is a legally binding contract in which a company promises to repay money to its private lenders at a predetermined time, along with interest Original issue discount amount: $ 78,165: Convertible Promissory Note One [Member] Debt instrument maturity date: Oct. 20, 2021: Convertible Promissory Note One [Member] | Securi convertible promissory notes of the Company (the Notes) for an aggregate purchase price of approximately $1.7 million in a private placement (the Offering). The Notes were issued with an original issue discount of approximately 15%. The form of Purchase Agreement is attached hereto as Exhibit 10.1 The interest rate should not be less than the federal rate. If this were to happen, the note could be deemed as containing an original issue discount. You can find this in IRC Section 1272(a). Usury laws provide a maximum limit set for the annual interest rate. Lower rates of interest tend to be available on the coasts and internationally

c. On January 6, 2015, the Company executed a convertible promissory note and securities purchase agreement with Adar Bay, LLC in the amount of $19,500, with original issue discount of $4,500, legal fees of $1,500, interest of 8% per annum, due January 6, 2016 and convertible into shares of common stock at a discount of 50% of the lowest closing bid price for twenty (20) prior trading days 1 Original issue discount for OMB No. 1545-0117 the year 1234 YOUR or DELIVERY 2 Other periodic interest 3 Early withdrawal penalty 5 Market discount 7 Description 1099-010 Form (Rev. October 2019) For calendar year 20 20 Original Issue Discount 1234 POST OFFICE ADDRESS ADDRESS ST. CITY / TOWN, 12345 PAYERS TIN SSN-XX-XXXX RECIPIENTS nam 10% FIXED CONVERTIBLE PROMISSORY NOTE . OF . SIMPLICITY ESPORTS AND GAMING COMPANY . Principal Amount shall refer to the sum of (i) the original principal amount of this Note (including the original issue discount, prorated if the Note has not been funded in full), (ii) all guaranteed and other accrued but unpaid interest hereunder,.

8% Original Issue Discount Promissory Note (the Note) by

On April 6, 2021, the Company entered into a convertible promissory note with a non-related party for $43,000, of which $3,000 was an original issue discount resulting in cash proceeds to the Company of $40,000. The note is due on April 5, 2022 and bears interest on the unpaid principal balance at a rate of 12% per annum On December 27, 2011, the Company completed a private offering of 8% Senior Subordinated Unsecured Convertible Promissory Notes (Convertible Notes) in the amount of $900,000 and received net proceeds of $750,000. The convertible notes were issued at 83.33% of the principal amount resulting in an original issue discount of $150,000 The remaining balance of the note and accrued interest was converted into common stock in January 2016. 170,856 5% original issue discount senior secured convertible promissory note dated May 5, 2014 issued to accredited investors, which matured November 5, 2015, and bore interest at a rate of 12% per annum UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Rep Original issue discount in connection with issuance of convertible promissory note $ 194,445 $- Initial classification of debt discount and issuance of commitment shares, leak-out shares and beneficial conversion feature in connection with convertible promissory note Convertible Promissory Note . On March 15, 2019, the Company issued the.

Exhibit Number Description 4.1 Original Issue 10% Fixed Convertible Promissory Note dated September 28, 2016 (incorporated by reference to Exhibit 4.1 to Form 8-K filed with the SEC on October 3. Print or Download Your Customized Promissory Note in 5-10 Minutes for Free. Follow Simple Instructions to Create a Legally Binding Promissory Note Online imputed interest. A common term for the IRS expression unstated interestor sometimes original issue discount.It applies to the situation in which a promissory note calls for no interest or insufficient interest under the circumstances.In an audit,the IRS will calculate an interest rate,impute that to the transaction, and declare each year's imputed interest as additional income to.

Instructions for Forms 1099-INT and 1099-OID (2021

  1. So it requires corporations who have any original issue discount method of interest payment to report that accrued value or interest as earnings even though it was never actually paid or received. The form to use for that is a 1099 OID (original issue discount). The Neals sent notice of a bonded promissory note purporting to.
  2. The promissory note is - Answered by a verified Real Estate Lawyer You do not need to report tax-exempt interest that is original issue discount (OID). Report interest that is taxable OID in box 1 or 6 of Form 1099-OID, Original Issue Discount, not on Form 1099-INT. Canadian nonresident aliens. If you pay U.S. bank deposit interest of at.
  3. PIK interest accrues during the applicable accrual period and is then paid in kind through either the issuance of additional debt instruments or an increase in the principal of the existing debt. PIK interest is accounted for under the original issue discount (OID) rules for inclusion into income
  4. The Note also carries an original issue discount of $400,000.00. In addition, the Company has agreed to pay $10,000.00 to Streeterville to cover its legal fees, accounting costs, due diligence.
  5. On March 6, 2017, the Company issued a 10% original issue discount (OID) promissory note with a principal balance of $66,667 due August 6, 2017 with an interest rate of 10%. In connection with the original issue discount promissory note the Company recorded OID of $6,667 and deferred financing of $1,000 which are to be amortized over the term.
  6. The Term Loan was issued at an original issue discount of 4% and provides that upon a change of control of Indiva, Sundial shall have the option exercisable within 60 days to require Indiva to prepay 104% of the outstanding principal amount of the Term Loan and all accrued and unpaid interest

This Convertible Promissory Note $3,320,000.00 original principal balance, less the OID, less the Transaction Expense Amount. The Purchase Price shall be payable by Lender by wire transfer of immediately available funds. 1. OID means an original issue discount E; Earned Original Issue Discount Earned Original Issue Discount; Earned Original Issue Discount Definition. A taxpayer's gain from reselling a promissory note purchased for less than face value, at a price exceeding that discounted price; also known as earned original issue discount income

How to Calculate a Discount on a Promissory Note Bizfluen

the issue price of this convertible note is $16,110,585, the amount of original issue discount is $1,889,415, the issue date is february 27, 2009 and the yield to maturity is 10.92%. PHOTOMEDEX, INC. SECURED CONVERTIBLE PROMISSORY NOTE The tax impact of converting accrued but unpaid interest on the notes is seldom foreseen amid the other pressures of a bridge note financing. To illustrate, let's imagine a company issues a bridge note for $1 million that bears 8% interest and is converted into preferred stock 1 year later In addition, pursuant to the Agreement the Company issued to the Investor a note due and payable on November 28, 2020 in the principal face amount of $200,000 that becomes convertible into Common Stock commencing June 30, 2020 (the Convertible Note and with the Exchanged Note, the Notes) with an original issue discount of twenty. The loan maturity date is March 18, 2022, and is the date on which the principal sum, the OID as well as any accrued and unpaid interest and other fees, shall be due and payable. If the Note is not repaid or refinanced, the Note is convertible into shares of the Company's common stock at a fixed price of $0.0055 per share original issuance discount convertible promissory notes (the Notes and each a Note) for an aggregate purchase price of $300,000. On the Initial Closing Date, the Company issued to RedDiamond a Note in the principal amount of $222,000, for a purchase price of $200,000. At the Company's option, at any time withi

Promissory Note Definition - investopedia

5% ORIGINAL ISSUE DISCOUNT CONVERTIBLE PROMISSORY NOTE DUE THIS 5% ORIGINAL ISSUE DISCOUNT CONVERTIBLE PROMISSORY NOTE is one of a series of duly authorized and validly issued 5% Original Issue Discount Convertible Promissory Notes of Electronic Cigarettes International Group, Ltd., a Nevada corporation, (the Company ), having its principal place of business at principal place of. Adjusted issue price is the issue price plus accrued original issue discount, if any, at the date of distribution (Regs. Sec. 1.1275-1(b)). Example: E, Inc. adopted a plan of complete liquidation on June 1, 2009

Zero Coupon Convertible Promissory Note - EarthWeb Inc. and Steve Anderson and Other Business Contracts, Forms and Agreeements. Competitive Intelligence for Investors 5% Original issue discount senior secured convertible promissory note dated May 5, 2014 issued to accredited investors, which matured November 5, 2015, and bore interest at a rate of 12% per annum. The fixed conversion price in effect was set at 90% of the 20-day volume weighted average price (VWAP) of our common stock on February 5, 2014, or. important to note that although the modifications made to debt in a workout context where debt is in default often address unique issues, the Internal Revenue Service (the IRS) has generally Act of 1990 Affecting Debt-for-Debt Exchanges, 51 TAX NOTES 79 (Apr. 8, 1991). 4 499 U.S. 554 (1991). 5 Prop. Treas

An introduction to the federal income tax issues

On March 19, 2021, the Company closed on a financing with Labrys Fund, L.P. for a 12% convertible promissory note in the principal amount of $535,000.00, providing the Company with a net of. In connection with the original issue discount promissory note the Company recorded OID of $6,667 and deferred financing of $1,000 which are to be amortized over the term of the note. As of March 31, 2017 the balance of the original issue discount promissory note amounted to $59,767, net of $6,000 of OID and $900 in deferred financing Corporation is authorized to issue was decreased to 1,500,000,000 shares from 7,500,000,000 shares and one share of the Corporation's ten million shares of authorized preferred stock was designated as Series A Preferred Stock with 50,000,000 votes, in pari passu and voting with the shares of the Corporation's common stock on all matter The purchase price for the $271,739.13 tranche of the note shall be $250,000.00 representing the original issue discount of 8%. A subsequent closing of an additional $271,739.13 portion of the Note (the Second Tranche) shall occur on the filing of the Company's resale registration statement covering the $ 543,478.26 Note being purchased. from 8-K 7 pages Unsecured Promissory Note 12/34/56. EX-4.1 from 8-K 7 pages Unsecured Promissory Note 12/34/56. EX-4.4 from 8-K 21 pages from 8-K 13 pages Original Issue Discount Convertible Promissory Note 12/34/56. EX-4.1 from 8-K 13 pages.

per annum and includes $5,000 of original issue discount. The note matured on January 1, 2016. The note is convertible into shares of common stock at a price equal to a variable conversion price of sixty percent (60%) of the lowest bid price in the five (5) days preceding the date of conversion 5% Original issue discount senior secured convertible promissory note dated May 5, 2014 issued to accredited investors, which matured November 5, 2015, and bore interest at a rate of 12% per annum. The fixed conversion price in effect was set at 90% of the 20-day volume weighted average price ( VWAP ) of our common stock on February 5, 2014, or. The short-term promissory note has a principal balance of $263,158 (the $250,000 principal amount borrowed plus a $13,158 original issue discount), accrues interest at 6% per annum and has a maturity date of March 9, 2018 and contains standard and customary events of default. See Note 2 Liquidity and Going Concern Considerations. Debentur

Original issue discount (19,667) Debt discount (78,165) Total convertible notes payable: 518,668: Convertible Promissory Note One [Member] Convertible notes payable: 385,000: Convertible Promissory Note Two [Member] Convertible notes payable: 50,000: Convertible Promissory Note Three [Member] Convertible notes payable: $ 181,50 The holder of the note also received annual payments of common stock at the rate of 2.5% of principal amount outstanding, based on a volume-weighted average price. We sold the note at an original issue discount of 96.27% and accordingly, we received total proceeds of $ 4,332,150 from the investor. We used the proceeds for working capital and. 5% Original Issue Discount Promissory Note due - SEC.gov. Aug 1, 2019 - This 5% ORIGINAL ISSUE DISCOUNT PROMISSORY NOTE is one of a.. easy-to-use application for freelancers and entrepreneurs to create Start earning on your forms NOW! Publish your form. Document & Resource Categories.. 5% Original issue discount senior secured convertible promissory note dated March 5, 2014 issued to accredited investors, which matured September 5, 2015, and bore interest at a rate of 12% per annum. The fixed conversion price in effect was set at 90% of the 20-day VWAP of our common stock on February 5, 2014, or $0.30753 per share Affidavit Of Loss: A written statement declaring the physical loss of a security - usually through theft or destruction by fire/flood. The affidavit contains all details regarding the loss, the.

On July 15, 2014, the Company issued a Convertible Promissory Note (Note) to Iconic Holding, LLC (Holder), in the original principal amount of $110,250 less an original issue discount of $5,250 and transaction costs of $8,340 bearing a 0% annual interest rate and maturing July 15, 2015 Note Date Current Outstanding Balance* Principal Amount at Issuance Interest Rate Maturity Date Conversion Terms Use of Proceeds *Principal plus accrued and unpaid interest May 25, 2018* $8,115 $6,350 (original issue discount - 70%) 18% (normal) 22% (default) November 25, 2018 60% discount to market Working Capital December 23, 201 Issuance of Convertible Promissory Note with Warrant On August 14, 2014, we issued an 8% Original Issue Discount Convertible Promissory Note in the principal amount of $61,600 (the OID Note) and a Common Stock Purchase Warrants for the purchase of 513,333 shares of our common stock to JDF Capital, Inc Original issue discount in connection with issuance of convertible promissory note $ 194,445 — Initial classification of debt discount and issuance of commitment shares and leak-out shares in connection with convertible promissory note $ 3,014,082

(4 days ago) In effect, he bought a note at a market discount and this discount has the same tax treatment as Original Issue Discount (OID). The OID rules treat the discount as additional interest which may be either accrued until the note is redeemed or reported as current income in the year received. The details can be found in IRS Pub 550 Principal Amount shall refer to the sum of (i) the original principal amount of this Note (including the original issue discount, prorated if the Note has not been funded in full), (ii) all guaranteed and other accrued but unpaid interest hereunder, (iii) any fees due hereunder, (iv) liquidated damages, and (v) any default payments owin The July Note was issued with an original issue discount of 5%, and certain expenses of the Noteholder were added to the balance of the July Note, for an original principal balance of US$8,420,000 Pursuant to the Agreement, the Company agreed to exchange a 12% secured promissory note (the Original Note) the Notes) with an original issue discount of twenty percent (20%)

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