Gaucho Group Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Loans Payable

Loans Payable

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Loans Payable

7. LOANS PAYABLE

The Company’s loans payable are summarized below:

	March 31, 2020							December 31, 2019
	Gross Principal Amount		Debt Discount			Loans Payable, Net of Debt Discount		Gross Principal Amount		Debt Discount			Loans Payable, Net of Debt Discount

2020 Demand Loan	$	27,641	$	-		$	27,641	$	-	$	-		$	-
2018 Demand Loan		6,219		-			6,219		6,678		-			6,678
2018 Loan		344,038		-			344,038		352,395		-			352,395
2017 Loan		59,601		-			59,601		67,491		-			67,491
Land Loan		459,500		(13,437	)		446,063		468,500		(16,762	)		451,738
Total Loans Payable		896,999		(13,437	)		883,562		895,064		(16,762	)		878,302
Less: current portion		796,999		(11,378	)		785,621		795,064		(13,345	)		781,719
Loans Payable, non-current	$	100,000	$	(2,059	)	$	97,941	$	100,000	$	(3,417	)	$	96,583

On March 1, 2020, the Company received a loan in the amount of $27,641 (ARS $1,777,778) (the” 2020 Demand Loan”) which bears interest at 10% per month and is due upon demand of the lender (the “Demand Loan”). Interest is paid monthly.

During the three months ended March 31, 2020, the Company made principal payments on loans payable in the aggregate of $20,677, of which $8,355 was paid on the 2018 Loan, $3,322 was paid on the 2017 Loan and $9,000 was paid on the Land Loan. The remaining decrease in principal balances are the result of the impact of the change in exchange rates during the period.

The Company incurred interest expense related to the loans payable in the amount of $22,530 and $40,822 during the three months ended March 31, 2020 and 2019, respectively, of which $3,325 and $6,495 represented amortization of debt discount.