Schedule of notes payable |
Notes payable consisted of the following at September 30, 2022 and December 31, 2021 (in thousands except for number of underlying shares) excluding the revolving line of credit agreement with related party discussed below:
Year
Issued
|
|
Interest Rate
Range
|
|
|
Term of Notes
|
|
Conversion
Price
|
|
|
Principal
Outstanding September 30, 2022
|
|
|
Unamortized Discount September 30, 2022
|
|
|
Carrying
Amount September 30, 2022
|
|
|
Underlying Shares September 30, 2022
|
|
|
Notes payable
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2013
|
|
10%
|
|
|
Due on demand
|
|
|
—
|
|
|
$
|
692
|
|
|
$
|
—
|
|
|
$
|
692
|
|
|
|
—
|
|
|
2021
|
|
11%
|
|
|
Due on demand - 2 years
|
|
|
—
|
|
|
|
2,719
|
|
|
|
—
|
|
|
|
2,719
|
|
|
|
—
|
|
|
2022
|
|
11%-36%
|
|
|
Due on demand - 7 month
|
|
|
—
|
|
|
|
2,243
|
|
|
|
19
|
|
|
|
2,224
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
5,654
|
|
|
$
|
19
|
|
|
$
|
5,635
|
|
|
|
—
|
|
|
|
|
|
|
|
|
Current
|
|
|
|
|
|
$
|
5,654
|
|
|
$
|
19
|
|
|
$
|
5,635
|
|
|
|
—
|
|
|
Notes payable - related parties
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2020
|
|
12%
|
|
|
Due on demand
|
|
|
—
|
|
|
|
100
|
|
|
|
—
|
|
|
|
100
|
|
|
|
—
|
|
|
2021
|
|
12%
|
|
|
Due on demand
|
|
|
—
|
|
|
|
700
|
|
|
|
—
|
|
|
|
700
|
|
|
|
—
|
|
|
2022
|
|
6%-12%
|
|
|
Due on demand - 5 years
|
|
|
—
|
|
|
|
5,501
|
|
|
|
135
|
|
|
|
5,361
|
|
(c)
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
6,301
|
|
|
$
|
135
|
|
|
$
|
6,161
|
|
|
|
—
|
|
|
|
|
|
|
|
|
Current
|
|
|
|
|
|
$
|
2,780
|
|
|
$
|
—
|
|
|
$
|
2,780
|
|
|
|
—
|
|
|
|
|
|
|
|
|
Non-current
|
|
|
|
|
|
$
|
3,521
|
|
|
$
|
135
|
|
|
$
|
3,381
|
|
|
|
—
|
|
|
Convertible notes payable
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2020(a)
|
|
12%
|
|
|
3 years
|
|
$
|
10.00
|
|
|
|
3,150
|
|
|
|
—
|
|
|
|
3,150
|
|
|
|
320,067
|
|
|
2021(b)
|
|
2%
|
|
|
3 years
|
|
$
|
0.37
|
|
|
|
14,315
|
|
|
|
3,119
|
|
|
|
11,196
|
|
|
|
41,112,131
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
17,465
|
|
|
$
|
3,119
|
|
|
$
|
14,346
|
|
|
|
41,432,198
|
|
|
|
|
|
|
|
|
Current
|
|
|
|
|
|
$
|
17,465
|
|
|
$
|
3,119
|
|
|
$
|
14,346
|
|
|
|
41,432,198
|
|
|
|
|
|
|
|
|
Total
|
|
|
|
|
|
$
|
29,421
|
|
|
$
|
3,273
|
|
|
$
|
26,143
|
|
|
|
41,432,198
|
|
|
Year
Issued
|
|
Interest Rate
Range
|
|
|
Term of Notes
|
|
Conversion
Price
|
|
|
Principal
Outstanding
December 31,
2021
|
|
|
Unamortized
Discount
December 31,
2021
|
|
|
Carrying
Amount
December 31,
2021
|
|
|
Underlying Shares
December 31, 2021
|
|
|
Notes payable
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2013
|
|
10%
|
|
|
Due on demand
|
|
|
—
|
|
|
$
|
869
|
|
|
$
|
—
|
|
|
$
|
869
|
|
|
|
—
|
|
|
2021
|
|
11%
|
|
|
Due on demand - 2 years
|
|
|
—
|
|
|
|
3,030
|
|
|
|
—
|
|
|
|
3,030
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
3,899
|
|
|
$
|
—
|
|
|
$
|
3,899
|
|
|
|
—
|
|
|
|
|
|
|
|
|
Current
|
|
|
|
|
|
$
|
2,399
|
|
|
$
|
—
|
|
|
$
|
2,399
|
|
|
|
—
|
|
|
|
|
|
|
|
|
Non-current
|
|
|
|
|
|
$
|
1,500
|
|
|
$
|
—
|
|
|
$
|
1,500
|
|
|
|
—
|
|
|
Notes payable - related parties
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2020
|
|
12%
|
|
|
Due on demand
|
|
|
—
|
|
|
$
|
100
|
|
|
$
|
—
|
|
|
$
|
100
|
|
|
|
—
|
|
|
2021
|
|
12%
|
|
|
Due on demand
|
|
|
—
|
|
|
|
700
|
|
|
|
—
|
|
|
|
700
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
800
|
|
|
$
|
—
|
|
|
$
|
800
|
|
|
|
—
|
|
|
|
|
|
|
|
|
Current
|
|
|
|
|
|
$
|
800
|
|
|
$
|
—
|
|
|
$
|
800
|
|
|
|
—
|
|
|
Convertible notes payable
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2020(a)
|
|
12%
|
|
|
3 years
|
|
$
|
10.00
|
|
|
|
3,150
|
|
|
|
—
|
|
|
|
3,150
|
|
|
|
316,756
|
|
|
2021(b)
|
|
2%
|
|
|
3 years
|
|
$
|
1.48
|
|
|
|
14,490
|
|
|
|
4,332
|
|
|
|
10,158
|
|
|
|
9,856,343
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
17,640
|
|
|
$
|
4,332
|
|
|
$
|
13,308
|
|
|
|
10,173,099
|
|
|
|
|
|
|
|
|
Current
|
|
|
|
|
|
$
|
14,490
|
|
|
$
|
4,332
|
|
|
$
|
10,158
|
|
|
|
9,856,343
|
|
|
|
|
|
|
|
|
Non-current
|
|
|
|
|
|
$
|
3,150
|
|
|
$
|
—
|
|
|
$
|
3,150
|
|
|
|
316,756
|
|
|
|
|
|
|
|
|
Total
|
|
|
|
|
|
$
|
22,339
|
|
|
$
|
4,332
|
|
|
$
|
18,007
|
|
|
$
|
10,173,099
|
|
|
|
(a)
|
This note is convertible into shares of EMI Holding, Inc., a wholly owned subsidiary of Emmaus Life Sciences, Inc.
|
|
(b)
|
The notes are convertible into shares of common stock of Emmaus Life Sciences, Inc. Beginning February 28, 2022, the note holders became entitled to call for redemption of the convertible notes payable at any time. Accordingly, the notes are classified as current liabilities.
|
|
(c)
|
Includes $41,000 of the fair value of embedded derivative.
|
|