Better Choice Company Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

Line of credit, short term loan and notes payable (FY) (Tables)

Line of credit, short term loan and notes payable (FY) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

Line of credit, short term loan and notes payable [Abstract]

Components of Debt

Note 10 - Debt

The components of the Company’s debt consist of the following:

	September 30, 2020						December 31, 2019
Dollars in thousands	Amount		Rate			Maturity Date	Amount		Rate			Maturity Date
Short term loan, net	$	19,369		(1	)	12/19/2020	$	16,061		(1	)	12/19/2020
Line of credit, net		5,048		(2	)	7/5/2022		4,819		(1	)	12/19/2020

November 2019 notes payable, net (November 2019 Notes)		2,736		10	%	6/30/2023		2,769		10	%	11/4/2021
December 2019 senior notes payable, net (Seller Notes)		9,993		10	%	6/30/2023		9,191		10	%	6/30/2023
December 2019 junior notes payable, net (Seller Notes)		4,797		10	%	6/30/2023		4,410		10	%	6/30/2023
ABG Notes		674		10	%	6/30/2023		—		—			—
June 2020 notes payable, net (June 2020 Notes)		40		10	%	6/30/2023		—		—			—
Halo PPP Loan		431		1	%	5/3/2022		—		—
TruPet PPP Loan		421		.98	%	4/6/2022		—		—			—
Total debt		43,509						37,250
Less current portion		19,827						20,880
Total long term debt	$	23,682					$	16,370

(1)Interest at Bank of Montreal Prime plus 8.05%

(2)Interest at a variable rate of LIBOR plus 250 basis points with an interest rate floor of 3.25% per annum

The components of the Company’s debt consist of the following:

	December 31, 2019					December 31, 2018
	Amount		Rate		Maturity Date	Amount		Rate		Maturity Date
Note payable (due to related parties)	$	-				$	1,600		26.6%	May 6, 2019
Short term loan, net		16,061		(2)	December 19, 2020
Lines of credit, net		4,819		(2)	December 19, 2020		4,600		(1)	May 6, 2019

November 2019 notes payable, net (November 2019 Notes)		2,769		10.0%	November 4, 2021
December 2019 senior notes payable, net (Seller Notes)		9,191		10.0%	June 30, 2023		-
December 2019 junior notes payable, net (Seller Notes)		4,410		10.0%	June 30, 2023
Total debt		37,250					6,200

(1)	Interest at LIBOR plus 3%

(2)	Interest at Bank of Montreal Prime plus 8.05%

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details