Quarterly report pursuant to Section 13 or 15(d)

LOANS PAYABLE

v3.22.1
LOANS PAYABLE
 3 Months Ended
Mar. 31, 2022
Loans Payable  
LOANS PAYABLE

10. LOANS PAYABLE

 

The Company’s loans payable are summarized below:

 

    March 31,
2022		     December 31,
2021		  
EIDL   $ 94,000     $ 94,000  
2018 Loan     195,740       223,356  
Total loans payable     289,740       317,356  
Less: current portion     196,995       223,356  
Loans payable, non-current   $ 92,745     $ 94,000  

 

During the three months ended March 31, 2022, the Company made principal payments in the amount of $26,329 on the 2018 Loan payable.

 

The Company incurred interest expense related to the loans payable in the amount of $4,273 and $5,968 during the three months ended March 31, 2022 and 2021, respectively. As of March 31, 2022 and December 31, 2021, there is accrued interest of $7,668 and $6,787, respectively, related to the Company’s loans payable.

 

 

GAUCHO GROUP HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)