General form of registration statement for all companies including face-amount certificate companies

Notes Payable (Tables)

v3.22.4
Notes Payable (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2022
Dec. 31, 2021
Notes Payable [Abstract]    
Schedule of notes payable
 

September 30,
2022

 

December 31,
2021

Convertible secured debentures

 

$

36,530,320

 

 

$

 

RCB Equities #1, LLC term loan credit agreement

 

 

 

 

 

14,708,333

 

Contingently convertible promissory notes:

 

 

 

 

 

 

 

 

Schlumberger Technology Corp.

 

 

 

 

 

1,500,000

 

Transocean Inc.

 

 

 

 

 

1,500,000

 

Goradia Capital LLC

 

 

 

 

 

5,000,000

 

Material Impact Fund II, LP

 

 

 

 

 

5,000,000

 

In-Q-Tel, Inc.

 

 

 

 

 

250,000

 

Total

 

 

36,530,320

 

 

 

27,958,333

 

Less: debt discount, net

 

 

(16,102,508

)

 

 

 

Less: current portion

 

 

 

 

 

(13,250,000

)

Total notes payable – long-term

 

$

20,427,812

 

 

$

14,708,333

 

 

December 31,

   

2021

 

2020

Common stock repurchase note

 

$

 

 

$

484,836

 

Schlumberger Technology Corp. contingently convertible promissory note

 

 

1,500,000

 

 

 

1,500,000

 

Transocean Inc. contingently convertible promissory note

 

 

1,500,000

 

 

 

1,500,000

 

Goradia Capital LLC contingently convertible promissory note

 

 

5,000,000

 

 

 

 

Material Impact Fund II, LP contingently convertible promissory note

 

 

5,000,000

 

 

 

 

In-Q-Tel, Inc. contingently convertible promissory note

 

 

250,000

 

 

 

 

RCB Equities #1, LLC term loan credit agreement

 

 

14,708,333

 

 

 

 

Total

 

 

27,958,333

 

 

 

3,484,836

 

Less: current portion, unrelated parties

 

 

(10,250,000

)

 

 

(484,836

)

current portion, related parties

 

 

(3,000,000

)

 

 

(3,000,000

)

Total Notes payable – long-term

 

$

14,708,333

 

 

$

 

Schedule of conversion options were valued using the Black-Scholes option pricing model  

Expected volatility

 

 

55.4

%

Expected term (years)

 

 

1.04

 

Risk-free interest rate

 

 

0.38

%

Dividend yield

 

 

0.0

%

Publicly traded price of CleanTech common stock

 

$

10.00

 

Estimated fair value of Nauticus common stock

 

$

35.52