Quarterly report pursuant to Section 13 or 15(d)

RELATED PARTY TRANSACTIONS (Tables)

v3.24.2.u1
RELATED PARTY TRANSACTIONS (Tables)
6 Months Ended
Jun. 30, 2024
Related Party Transactions [Abstract]  
Schedule of outstanding loans from related parties

The following table sets forth information relating to loans from related parties outstanding at any time during the six months ended June 30, 2024 (in thousands):

 

Class

Lender

 

Interest
Rate

 

Date of
Loan

 

Term of Loan

 

Principal Amount Outstanding at June 30, 2024

 

 

Highest
Principal
Outstanding

 

 

Amount of
Principal
Repaid or
Converted to Shares

 

 

Amount of
Interest
Paid

 

Promissory note payable to related parties:

 

 

 

 

 

 

 

 

 

 

 

 

 

Willis Lee(2)

 

12%

 

10/29/2020

 

Due on Demand

 

 

100

 

 

 

100

 

 

 

 

 

 

 

 

Soomi Niihara(1)

 

12%

 

12/7/2021

 

Due on Demand

 

 

700

 

 

 

700

 

 

 

 

 

 

 

 

Hope International Hospice, Inc.(1)

 

10%

 

2/9/2022

 

Due on Demand

 

 

350

 

 

 

350

 

 

 

 

 

 

 

 

Hope International Hospice, Inc.(1)

 

10%

 

2/15/2022

 

Due on Demand

 

 

210

 

 

 

210

 

 

 

 

 

 

 

 

Soomi Niihara(1)

 

10%

 

2/15/2022

 

Due on Demand

 

 

100

 

 

 

100

 

 

 

 

 

 

 

 

Hope International Hospice, Inc.(1)

 

12%

 

3/15/2022

 

Due on Demand

 

 

150

 

 

 

150

 

 

 

 

 

 

 

 

Hope International Hospice, Inc.(1)

 

12%

 

3/30/2022

 

Due on Demand

 

 

150

 

 

 

150

 

 

 

 

 

 

 

 

Wei Peu Derek Zen(2)

 

10%

 

3/31/2022

 

Due on Demand

 

 

200

 

 

 

200

 

 

 

 

 

 

 

 

Willis Lee(2)

 

10%

 

4/14/2022

 

Due on Demand

 

 

45

 

 

 

45

 

 

 

 

 

 

 

 

Hope International Hospice, Inc.(1)

 

10%

 

5/25/2022

 

Due on Demand

 

 

40

 

 

 

40

 

 

 

 

 

 

 

 

Yutaka and Soomi Niihara(1)

 

12%

 

7/27/2022

 

5 years

 

 

402

 

 

 

402

 

 

 

 

 

 

24

 

 

Yutaka and Soomi Niihara(1)

 

10%

 

8/16/2022

 

5 years

 

 

250

 

 

 

250

 

 

 

 

 

 

13

 

 

Yutaka and Soomi Niihara(1)

 

10%

 

8/16/2022

 

5 years

 

 

1,669

 

 

 

1,669

 

 

 

 

 

 

83

 

 

Hope International Hospice, Inc.(1)

 

10%

 

8/17/2022

 

Due on Demand

 

 

50

 

 

 

50

 

 

 

 

 

 

 

 

Hope International Hospice, Inc.(1)

 

10%

 

10/20/2022

 

Due on Demand

 

 

100

 

 

 

100

 

 

 

 

 

 

 

 

Hope International Hospice, Inc.(1)

 

10%

 

3/17/2023

 

Due on Demand

 

 

100

 

 

 

100

 

 

 

 

 

 

 

 

Yutaka and Soomi Niihara(1)

 

10%

 

3/21/2023

 

Due on Demand

 

 

127

 

 

 

127

 

 

 

 

 

 

 

 

Wei Peu Zen(2)

 

60%

 

12/1/2023

 

2 months

 

 

350

 

 

 

700

 

 

 

350

 

 

 

70

 

 

 

 

 

 

 

Subtotal

 

$

5,093

 

 

$

5,443

 

 

$

350

 

 

$

190

 

 

 

 

 

 

 

 

Total

 

$

5,093

 

 

$

5,443

 

 

$

350

 

 

$

190

 

 

The following table sets forth information relating to loans from related parties outstanding at any time during the year ended December 31, 2023:

 

Class

Lender

 

Interest
Rate

 

Date of
Loan

 

Term of Loan

 

Principal Amount Outstanding at December 31, 2023

 

 

Highest
Principal
Outstanding

 

 

Amount of
Principal
Repaid or
Converted to Shares

 

 

Amount of
Interest
Paid

 

Current, Promissory note payable to related parties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Willis C. Lee(2)

 

12%

 

10/29/2020

 

Due on Demand

 

 

100

 

 

 

100

 

 

 

 

 

 

 

Soomi Niihara(1)

 

12%

 

12/7/2021

 

Due on Demand

 

 

700

 

 

 

700

 

 

 

 

 

 

 

Hope International Hospice, Inc.(1)

 

12%

 

2/9/2022

 

Due on Demand

 

 

350

 

 

 

350

 

 

 

 

 

 

 

Hope International Hospice, Inc.(1)

 

10%

 

2/15/2022

 

Due on Demand

 

 

210

 

 

 

210

 

 

 

 

 

 

 

Soomi Niihara(1)

 

10%

 

2/15/2022

 

Due on Demand

 

 

100

 

 

 

100

 

 

 

 

 

 

 

Hope International Hospice, Inc.(1)

 

10%

 

3/15/2022

 

Due on Demand

 

 

150

 

 

 

150

 

 

 

 

 

 

 

Hope International Hospice, Inc.(1)

 

10%

 

3/30/2022

 

Due on Demand

 

 

150

 

 

 

150

 

 

 

 

 

 

 

Wei Peu Zen(2)

 

10%

 

3/31/2022

 

Due on Demand

 

 

200

 

 

 

200

 

 

 

 

 

 

 

Willis C. Lee(2)

 

10%

 

4/14/2022

 

Due on Demand

 

 

45

 

 

 

45

 

 

 

 

 

 

 

Hope International Hospice, Inc.(1)

 

12%

 

5/25/2022

 

Due on Demand

 

 

40

 

 

 

40

 

 

 

 

 

 

 

Yutaka and Soomi Niihara(1)

 

12%

 

7/27/2022

 

5 years

 

 

402

 

 

 

402

 

 

 

 

 

 

48

 

Hope International Hospice, Inc.(1)

 

10%

 

8/15/2022

 

Due on Demand

 

 

 

 

 

50

 

 

 

50

 

 

 

2

 

Yutaka and Soomi Niihara(1)

 

10%

 

8/16/2022

 

5 years

 

 

250

 

 

 

250

 

 

 

 

 

 

25

 

Yutaka and Soomi Niihara(1)

 

10%

 

8/16/2022

 

5 years

 

 

1,669

 

 

 

1,669

 

 

 

 

 

 

167

 

Hope International Hospice, Inc.(1)

 

12%

 

8/17/2022

 

Due on Demand

 

 

50

 

 

 

50

 

 

 

 

 

 

 

Yutaka and Soomi Niihara(1)

 

10%

 

8/17/2022

 

Due on Demand

 

 

 

 

 

60

 

 

 

60

 

 

 

6

 

Seah Lim(2)

 

10%

 

9/16/2022

 

3 years

 

 

 

 

 

1,200

 

 

 

1,200

 

 

 

90

 

Hope International Hospice, Inc.(1)

 

10%

 

10/20/2022

 

Due on Demand

 

 

100

 

 

 

100

 

 

 

 

 

 

 

Hope International Hospice, Inc.(1)

 

10%

 

3/17/2023

 

Due on Demand

 

 

100

 

 

 

100

 

 

 

 

 

 

 

Yutaka and Soomi Niihara(1)

 

10%

 

3/21/2023

 

Due on Demand

 

 

127

 

 

 

127

 

 

 

 

 

 

 

Wei Peu Zen(2)

 

60%

 

12/1/2023

 

2 months

 

 

700

 

 

 

700

 

 

 

 

 

 

 

 

 

 

 

 

 

Subtotal

 

$

5,443

 

 

$

6,753

 

 

$

1,310

 

 

$

338

 

Convertible note payable to related parties:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Wei Peu Zen(2)

 

10%

 

1/18/2023

 

1 - 2 years

 

 

 

 

 

1,000

 

 

 

1,000

 

 

 

91

 

 

 

 

 

 

 

Subtotal

 

$

 

 

$

1,000

 

 

$

1,000

 

 

$

91

 

 

 

 

 

 

 

Total

 

$

5,443

 

 

$

7,753

 

 

$

2,310

 

 

$

429

 

 

(1)
Dr. Niihara, a former Director and former Chairman and Chief Executive Officer of the Company, is also a director and the Chief Executive Officer of Hope International Hospice, Inc.
(2)
Officer or director.