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

8. NOTES PAYABLE (Tables)

3 Months Ended

Mar. 31, 2016

		March 31, 2016			December 31, 2015
	Maturity	Balance			Balance			Interest Rate
Senior Secured Convertible Promissory Notes:
Tranche 1 (Promissory Note 1)	May 19, 2016	$	–		$	510,000			10%
Tranche 2 (Promissory Note 2)	June 12, 2016		255,000			510,000			10%
Tranche 3 (Promissory Note 3)	July 24, 2016		510,000			510,000			10%
Tranche 4 (Promissory Note 4)	September 16, 2016		255,000			255,000			10%
Total borrowings			1,020,000			1,785,000

Convertible notes converted (Promissory Note 1)			–			(510,000	)
Convertible notes converted (Promissory Note 2)			(255,000	)		(255,000	)
Convertible notes converted/repaid (Promissory Note 3)			(510,000	)		–
Convertible notes repaid (Promissory Note 4)			(255,000	)		–
Unamortized debt issuance costs			–			(99,805	)
Unamortized debt discount - beneficial conversion feature			–			(38,392	)

Net carrying amount of debt			–			881,803
Less current portion			–			881,803
Long-term borrowings - net of current portion		$	–		$	–

March 31,

2016

December 31, 2015

Maturity

Balance

Interest Rate

Unsecured promissory note payable

February 1, 2018

850,000

–

12%

Unamortized original issue discount and debt issuance costs

(44,522

)

–

Unamortized debt discount - fair value of warrants

(244,567

)

–

Net carrying amount of debt

560,911

–

Less current portion

–

Long-term borrowings - net of current portion

560,911

–