LOAN PAYABLE

9 Months Ended

Sep. 30, 2021

NOTE 10 – LOAN PAYABLE

Loan payable consists of the following at September 30, 2021 and December 31, 2020 (in thousands):

	September 30, 2021			December 31, 2020

Note to a company due September 29, 2021, including interest at 4.32% per annum; unsecured; interest due monthly	$	-		$	182
Note to a company due September 6, 2021, including interest at 6.55% per annum; unsecured; interest due monthly		-			83
Note to a company due June 6, 2022, including interest at 4.42% per annum; unsecured; interest due monthly		60			-
Current portion of loan payable		(60	)		(265	)
Loan payable, less current portion	$	-		$	-

Interest expense for the three and nine month periods ended September 30, 2021 was $0.001 million and $0.003 million, respectively. Interest expense for the three and nine month periods ended September 30, 2020 was $0.001 million and $0.002 million, respectively.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Avenir Wellness Solutions, Inc. 10-Q/A