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Envision Solar International, Inc. – ‘10-K’ for 12/31/19 – ‘R18’

On:  Monday, 3/30/20, at 4:16pm ET   ·   For:  12/31/19   ·   Accession #:  1683168-20-1022   ·   File #:  1-38868

Previous ‘10-K’:  ‘10-K’ on 3/20/19 for 12/31/18   ·   Next:  ‘10-K/A’ on 5/5/20 for 12/31/19   ·   Latest:  ‘10-K/A’ on 4/29/24 for 12/31/23   ·   6 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/30/20  Envision Solar Int’l, Inc.        10-K       12/31/19   79:4.5M                                   GlobalOne Filings Inc/FA

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML    538K 
 2: EX-4.1      Description of Our Securities                       HTML     26K 
 3: EX-31.1     Certification -- §302 - SOA'02                      HTML     27K 
 4: EX-31.2     Certification -- §302 - SOA'02                      HTML     27K 
 5: EX-32.1     Certification -- §906 - SOA'02                      HTML     22K 
 6: EX-32.2     Certification -- §906 - SOA'02                      HTML     22K 
51: R1          Document and Entity Information                     HTML     61K 
29: R2          Balance Sheets                                      HTML    128K 
37: R3          Balance Sheets (Parenthetical)                      HTML     48K 
77: R4          Statements of Operations                            HTML     63K 
52: R5          Statements of Operations (Parenthetical)            HTML     24K 
30: R6          Statements of Changes in Stockholders' Equity       HTML     71K 
                (Deficit)                                                        
38: R7          Statements of Cash Flows                            HTML    138K 
75: R8          1. Corporate Organization, Nature of Operations     HTML     72K 
                and Summary of Significant Accounting Policies                   
54: R9          2. Liquidity                                        HTML     27K 
68: R10         3. Accounts Receivable, and Deferred Revenue        HTML     26K 
62: R11         4. Prepaid Expenses and Other Current Assets        HTML     27K 
16: R12         5. Inventory                                        HTML     28K 
43: R13         6. Property and Equipment                           HTML     31K 
69: R14         7. Accrued Expenses                                 HTML     28K 
63: R15         8. Convertible Line of Credit                       HTML     36K 
17: R16         9. Convertible Note Payable - Related Party         HTML     29K 
44: R17         10. Convertible Notes Payable                       HTML     49K 
70: R18         11. Note Payable                                    HTML     30K 
61: R19         12. Auto Loan                                       HTML     24K 
23: R20         13. Commitments and Contingencies                   HTML     30K 
31: R21         14. Common Stock                                    HTML     51K 
72: R22         15. Stock Options and Warrants                      HTML     73K 
48: R23         16. Revenues                                        HTML     29K 
24: R24         17. Income Taxes                                    HTML     41K 
32: R25         18. Related Party Transactions                      HTML     44K 
73: R26         19. Subsequent Events                               HTML     26K 
49: R27         1. Corporate Organization, Nature of Operations     HTML    141K 
                and Summary of Significant Accounting Policies                   
                (Policies)                                                       
22: R28         4. Prepaid Expenses and Other Current Assets        HTML     26K 
                (Tables)                                                         
33: R29         5. Inventory (Tables)                               HTML     29K 
47: R30         6. Property and Equipment (Tables)                  HTML     29K 
19: R31         7. Accrued Expenses (Tables)                        HTML     27K 
60: R32         10. Convertible Notes Payable (Tables)              HTML     31K 
67: R33         14. Common Stock (Tables)                           HTML     28K 
46: R34         15. Stock Options and Warrants (Tables)             HTML     70K 
18: R35         16. Revenues (Tables)                               HTML     27K 
59: R36         17. Income Taxes (Tables)                           HTML     38K 
66: R37         1. Corporate Organization, Nature of Operations     HTML     74K 
                and Summary of Significant Accounting Policies                   
                (Details Narrative)                                              
45: R38         2. Liquidity (Details Narrative)                    HTML     36K 
20: R39         3. Accounts Receivable, and Deferred Revenue        HTML     27K 
                (Details Narrative)                                              
36: R40         4. Prepaid Expenses and Other Current Assets        HTML     36K 
                (Details)                                                        
26: R41         5. Inventory (Details)                              HTML     35K 
56: R42         6. Property and Equipment (Details)                 HTML     41K 
79: R43         6. Property and Equipment (Details Narrative)       HTML     27K 
35: R44         7. Accrued Expenses (Details)                       HTML     46K 
25: R45         8. Convertible Line of Credit (Details Narrative)   HTML     74K 
55: R46         9. Convertible Note Payable - Related Party         HTML     39K 
                (Details Narrative)                                              
78: R47         10. Convertible Notes Payable (Details -            HTML     42K 
                Convertible notes payable)                                       
34: R48         10. Convertible Notes Payable (Details Narrative)   HTML     49K 
27: R49         11. Note Payable (Details Narrative)                HTML     67K 
14: R50         12. Auto Loan (Details Narrative)                   HTML     29K 
40: R51         13. Commitments and Contingencies (Details          HTML     32K 
                Narrative)                                                       
64: R52         14. Common Stock (Details)                          HTML     43K 
57: R53         14. Common Stock (Details Narrative)                HTML    136K 
15: R54         15. Stock Options and Warrants                      HTML     37K 
                (Details-Assumptions)                                            
41: R55         15. Stock Options and Warrants (Details-Option      HTML     57K 
                Activity)                                                        
65: R56         15. Stock Options and Warrants (Details-Options     HTML     61K 
                Outstanding and Exercisable)                                     
58: R57         15. Stock Options and Warrants (Details-Warrant     HTML     53K 
                Activity)                                                        
13: R58         15. Stock Options and Warrants (Details Narrative)  HTML     72K 
42: R59         16. Revenues (Details)                              HTML     28K 
74: R60         16. Revenues (Details Narrative)                    HTML     29K 
53: R61         17. Income Taxes (Details-Tax Expense)              HTML     44K 
28: R62         17. Income Taxes (Details-Deferred tax assets and   HTML     65K 
                liabilities)                                                     
39: R63         17. Income Taxes (Details Narrative)                HTML     41K 
76: R64         18. Related Party Transactions (Details Narrative)  HTML    104K 
71: XML         IDEA XML File -- Filing Summary                      XML    141K 
21: EXCEL       IDEA Workbook of Financial Reports                  XLSX     92K 
 7: EX-101.INS  XBRL Instance -- evsi-20191231                       XML   1.09M 
 9: EX-101.CAL  XBRL Calculations -- evsi-20191231_cal               XML    198K 
10: EX-101.DEF  XBRL Definitions -- evsi-20191231_def                XML    583K 
11: EX-101.LAB  XBRL Labels -- evsi-20191231_lab                     XML    931K 
12: EX-101.PRE  XBRL Presentations -- evsi-20191231_pre              XML    847K 
 8: EX-101.SCH  XBRL Schema -- evsi-20191231                         XSD    138K 
50: ZIP         XBRL Zipped Folder -- 0001683168-20-001022-xbrl      Zip    133K

‘R18’   —   11. Note Payable

This is an IDEA Financial Report.  [ Alternative Formats ]

 
v3.20.1
11. NOTE PAYABLE
 12 Months Ended
Notes Payable [Abstract]  
NOTE PAYABLE

11. NOTES PAYABLE

 

In April 2019, the Company used proceeds from its public offering to pay off the entire balance of this Note Payable, along with all accrued and unpaid interest. As of December 31, 2019, the following summarizes this note payable:

 

On August 27, 2018, the Company entered into an unsecured promissory note (the “Note”) in the amount of $750,000 (the “Principal Amount”) with Gemini Special Opportunities Fund, LP (“Gemini”). The Note bears simple interest at an annual rate of 10% and is subject to a Securities Purchase Agreement, dated August 27, 2018. This Note was due and payable on February 28, 2019 (the “Maturity Date”). Effective February 28, 2019, a forbearance agreement was granted by Gemini lender for any defaults, confirmed in writing, until Gemini and the Company complete an amendment extending the maturity date of the note, or the note is repaid by the Company. If the Company repays the Note after November 28, 2018, the Company shall pay 115% of the Principal Amount plus accrued interest. During the year ending December 31, 2018, the Company recorded an increase in the Note Payable balance of $112,500 with offsetting debt discount related to this repayment premium which is being amortized to interest expense over the term of the note. Additionally, the Company paid $5,000 of lender fees which were also recorded as debt discount and are also being amortized to interest expense over the term of the note.

 

As additional consideration for the loan evidenced by the Note, the Company issued to Gemini warrants to purchase up to 18,000 shares of common stock for a period of five years from the date of issuance with an exercise price equal to $12.50 per share. These warrants had a fair value of $115,521 using the Black-Sholes valuation methodology. As a result of this transaction, the Company recorded $100,102 of debt discount consisting of the relative fair value of the warrants which is being amortized to interest expense over the term of the note.

 

As of December 31, 2018, this note had a balance of $788,185, net of a discount of $74,315 with accrued interest of $26,096 included in accrued expenses.

 

As of March 31, 2019, this note had a balance amounting to $862,500 with accrued interest amounting to $44,589.

 

In April 2019, the Company repaid the note balance of $862,500, and unpaid interest of $47,466, of which $2,877 was expensed in that quarter. In addition, the Company paid $75,000 for an extension fee, which was recorded as interest expense in that quarter.

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:3/30/208-K
For Period end:12/31/1910-K/A,  NT 10-K
3/31/1910-Q
2/28/19
12/31/1810-K
11/28/18
8/27/188-K
 List all Filings 

6 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/31/23  Beam Global                       10-K       12/31/22   73:5.3M                                   GlobalOne Filings Inc/FA
 9/16/22  Beam Global                       S-1                   15:783K                                   GlobalOne Filings Inc/FA
 3/31/22  Beam Global                       10-K       12/31/21   69:4.9M                                   GlobalOne Filings Inc/FA
 3/30/21  Beam Global                       10-K       12/31/20   80:4.4M                                   GlobalOne Filings Inc/FA
11/27/20  Beam Global                       424B5      11/25/20    1:255K                                   GlobalOne Filings Inc/FA
 8/27/20  Beam Global                       S-8         8/27/20    3:93K                                    GlobalOne Filings Inc/FA
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Filing Submission 0001683168-20-001022   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)
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