CV Sciences, Inc. Quarterly report pursuant to Section 13 or 15(d)

7. NOTES PAYABLE (Tables)

6 Months Ended

Jun. 30, 2018

	June 30, 2018		December 31, 2017

Unsecured promissory note payable	$	850,000	$	850,000
Debt extinguishment (Promissory Note)		–		(850,000	)
Unsecured promissory note – principal amount (Wiltshire 2)		–		850,000

Net carrying amount of debt		850,000		850,000
Less current portion		850,000		–
Long-term borrowings - net of current portion	$	–	$	850,000

Maturity

June 30,
2018

December 31,
2017

Interest
Rate

Secured promissory note payable

April 1, 2018

–

1,897,976

10%

Interest accrued

–

137,334

Unamortized original issue discount and debt issuance costs

–

35,335

Conversion of convertible promissory notes and accrued interest to common stock

–

(1,805,000

)

Conversion of convertible promissory notes and accrued interest to accrued liabilities

–

75,000

Cash repayment of promissory notes and accrued interest

–

(340,645

)

Net carrying amount of debt

–

Less current portion

–

Long-term borrowings - net of current portion

–

	Maturity	June 30, 2018			December 31, 2017			Interest Rate

Secured promissory note payable	April 30, 2018	$	609,926		$	770,000		8%
Interest accrued		$	44,360			51,890
Unamortized original issue discount and debt issuance costs, net		$	5,714			(5,714	)
Conversion of convertible promissory notes and accrued interest to accrued liabilities			–			(75,000	)
Cash repayment of promissory notes and accrued interest		$	(660,000	)		(131,250	)

Net carrying amount of debt			–			609,926
Less current portion			–			(609,926	)
Long-term borrowings - net of current portion		$	–		$	–