Quarterly report pursuant to Section 13 or 15(d)

DEBT OBLIGATIONS

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DEBT OBLIGATIONS
 9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
DEBT OBLIGATIONS

7. DEBT OBLIGATIONS

 

The Company’s debt obligations are summarized below:

 

    September 30, 2021     December 31, 2020  
    Principal     Interest [1]     Total     Principal     Interest [1]     Total  
                                     
2010 Debt Obligations   $ -     $ 13,416     $ 13,416     $ -     $ 330,528     $ 330,528  
2017 Notes     7,000       4,547       11,547       1,170,354       261,085       1,431,439  
Gaucho Notes     - #     -       -       100,000       13,270       113,270  
Total Debt Obligations   $ 7,000     $ 17,963     $ 24,963     $ 1,270,354     $ 604,883     $ 1,875,237  

 

  [1] Accrued interest is included as a component of accrued expenses on the accompanying condensed consolidated balance sheets.

 

Each of the debt obligations listed above are past due and are payable on demand. The Company incurred interest expense of $0 and $4,158 in connection with its debt obligations during the three and nine months ended September 30, 2021, respectively, and incurred interest expense of $31,732 and $94,255 in connection with its debt obligations during the three and nine months ended September 30, 2020, respectively.

 

 

GAUCHO GROUP HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

 

The Company repaid principal and interest of $100,000 and $332,364, respectively, during the nine months ended September 30, 2021.

 

On January 8, 2021, the Company issued 237,012 shares of common stock and warrants to purchase 237,012 shares of common stock to Mr. Griffin and JLAL Holdings Ltd with an aggregate issuance date fair value of $1,422,068 in exchange for notes payable with an aggregate of $1,163,354 in principal and $258,714 in accrued interest.