Quarterly report pursuant to Section 13 or 15(d)

Related Party and former related parties Transactions

v3.21.2
Related Party and former related parties Transactions
6 Months Ended
Jun. 30, 2021
Related Party Transactions [Abstract]  
Related Party and former related parties Transactions

Note 8 – Related Party and former related parties Transactions.

 

One executive officer of the Company has agreed to defer a portion of his compensation until cash flow improves. As of June 30, 2021, the balance of the deferred compensation was $400,789, which reflects $150,000 accrual of deferred compensation and approximately $86,679 cash repayment of deferred compensation during the six months ended June 30, 2021.

 

One former executive of the Company has agreed to defer a portion of his compensation until cash flow improves. As of June 30, 2021, the balance of his deferred compensation was $632,257. No activity occurred during the six months ended June 30, 2021.

 

From time-to-time officer of the Company advance monies to the Company to cover costs. The balance of short-term advances due to one officer of the Company at June 30, 2021, was $6,529 and is included in the Company’s accounts payable balance as of June 30, 2021. During the six months ended June 30, 2021, the Company’s executive officer advanced an aggregate amount of $19,750 for corporate expenses and notes repayment, of which $19,750 was repaid back as of June 30, 2021.

 

At June 30, 2021, notes payable remain outstanding to the former President of the Company, in the amount of $121,000. At June 30, 2021, accrued interests on these notes payable totaled $61,026, and are included in accrued expenses on the condensed consolidated balance sheet.

 

  

Endonovo Therapeutics, Inc. and Subsidiaries

Notes to Condensed Consolidated Financial Statements (continued)