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

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Envision Solar International, Inc. – ‘10-K’ for 12/31/19 – ‘R16’

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

  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

‘R16’ — 9. Convertible Note Payable – Related Party

This is an IDEA Financial Report. [ Alternative Formats ]

9. CONVERTIBLE NOTE PAYABLE - RELATED PARTY

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

CONVERTIBLE NOTE PAYABLE - RELATED PARTY

9.	CONVERTIBLE NOTE PAYABLE – RELATED PARTY

On October 18, 2016, the Company entered into a five-year employment agreement, effective as of January 1, 2016, with Mr. Desmond Wheatley, the Chief Executive Officer, President, and Chairman of the Company (the “Agreement”). Pursuant to the Agreement, Mr. Wheatley receives an annual deferred salary of $50,000 which Mr. Wheatley defers until such time as Mr. Wheatley and the Board of Directors agreed that payment of the deferred salary and/or cessation of the deferral was appropriate. In August 2018, the Agreement was amended to provide that his salary shall defer until the earliest to occur of the following: (i) a permissible event specified in Section 409A of the Code, (ii) December 31, 2020, (iii) a change of control as defined in the Agreement, or (iv) a sale of all or substantially all of the assets of the Company.

All deferred amounts are evidenced by an unsecured convertible promissory note payable by the Company to Mr. Wheatley bearing simple interest at the rate of 10% per annum, accruing until paid, convertible into shares of the Company’s common stock at $7.50 per share at any time in whole or in part at Mr. Wheatley’s discretion. As the conversion price was equivalent to the fair value of the common stock at various salary deferral dates prior to June 30, 2018, there was no beneficial conversion feature to this note through such date. Subsequent to June 30, 2018 through December 31, 2018 and based on the average daily closing price of our common stock, the Company recorded $8,672 of debt discount for the beneficial conversion feature value which is being amortized to interest expense over the term of the note. For the three months ended March 31, 2019 and based on the average daily closing price of our common stock, the Company recorded $3,967 of debt discount for the beneficial conversion feature value which is also being amortized to interest expense over the term of the note. There was no beneficial conversion value and therefore, no debt discount was recorded for the three months ended June 31, September 30 or December 31, 2019. Additionally, on March 29, 2017 the Board of Directors granted Mr. Wheatley a $35,000 bonus for which Mr. Wheatley agreed to defer such bonus under the same terms of his salary deferral. The balance of the note as of December 31, 2019 is $214,427, net of debt discount amounting to $5,990, with accrued and unpaid interest amounting to $48,884 which is included in accrued expenses (See Note 7). The balance of the note as of December 31, 2018, was $177,251, net of debt discount amounting to $7,749, with accrued and unpaid interest amounting to $28,220.

On September 17, 2019, the Board of Directors adopted a resolution to pay off the convertible promissory note issued to Mr. Wheatley for his deferred compensation in the near future (subject to a recommendation on timing from Mr. Wheatley), and no additional salary was deferred after September 15, 2019. As a result, this note is presented as a current liability on the accompanying balance sheet at December 31, 2019 and was presented as a non-current liability at December 31, 2018 (See Note 18 and 19).

Dates Referenced Herein and Documents Incorporated by Reference

This ‘10-K’ Filing	Date	Other Filings

	12/31/20
Filed on:	3/30/20	8-K
For Period end:	12/31/19	10-K/A, NT 10-K
	9/17/19	8-K
	9/15/19
	3/31/19	10-Q
	12/31/18	10-K
	6/30/18	10-Q
	3/29/17
	10/18/16	4, 8-K, PRE 14A
	1/1/16
		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.)