Loan Summary:
Paid off $5.0 million in Q2
Still owe $1.8 million in old loans
New loans in Q2, $1.0 million
Most of the loans are held by the directors, and the directors hold a ton of shares. Very good situation.
Notes Payable
On September 8, 2010. Capstone Companies, Inc., and Howard Ullman transferred to Sterling National Bank.
As of December 31, 2013, the balance due to Sterling was $4,237,144. As of June 30, 2014, the loan has been paid in full and balance due to Sterling was $0
Paid off $4.2 mil in Q2
Notes and Loans Payble to Officers/Directors
On May 30, 2007, the Company executed a $575,000 promissory note payable to a director of the Company.
As of June 30, 2014 the total combined balance due on these two notes was $516,648 which includes interest of $97,702.
Still owe $517k
On July 11, 2008, the Company received a loan from a director of $250,000. At December 31, 2013, the total amount payable on this note was $330,000 including interest of $80,000. This note along with accrued interest was paid in full on April 23, 2014.
Paid off $330k in Q2
On March 11, 2010, the Company received a loan from a director of $100,000. At December 31, 2013 the total amount payable on this note was $130,466 including interest of $30,466. At June 30, 2014 the total amount payable on this note was $134,433 including interest of $34,433.
Still owe $134k
On May 11, 2010, the Company received a loan from a director of $75,000. At December 31, 2013 the total amount payable on this note was $96,847 including interest of $21,847. At June 30, 2014 the total amount payable on this note was $99,822 including interest of $24,822.
Still owe $100k
On June 11, 2010, the Company received a loan from a director of $150,000. At December 31, 2013 the total amount payable on this note was $192,674 including interest of $42,674. This note and interest was paid in full on April 1, 2014.
Paid off $193k in Q2
During the quarter ended June 30, 2008, the Company executed three notes payable for a combined total of $200,000 to an officer of the Company. At December 31, 2013 the total amount due on these notes was $264,000 including interest of $64,000. This note and interest was paid in full on April 23, 2014.
Paid off $264k in Q2
On January 15, 2013, the company received a new loan of $250,000 from Stewart Wallach, the Chief Executive Officer and Director of Capstone Companies, Inc. At June 30, 2014 the total amount payable on this note was $279,096 including interest of $29,096
Still owe $280k
On January 15, 2013, the company received a new loan of $250,000 from a director of Capstone Companies, Inc. At June 30, 2014 the total amount payable on this note was $ 279,096 including interest of $29,096.
Still owe $280k.
Purchase Order Assignment-Funding
On June 14, 2014, Capstone Industries, Inc. received a $125,000 loan from George Wolf. The loan balance at June 30, 2014 is $125,575 including accrued interest of $575.
New loan, owes $126k
On December 11, 2013, Capstone Industries, Inc. received $620,000 against new note from Jeffrey Postal a director of the Company. As of December 31, 2013, the total amount due under this note was $624,077 including accrued interest of $4,077. This note was paid in full during the first quarter 2014 and no amount is due at March 31, 2014.
Paid off $624k in Q1
On June 9, 2014, Capstone Industries, Inc. received $825,000 against two new notes from Jeffrey Postal a director of the Company. As of June 30, 2014, the total amount due under this note was $830,696 including accrued interest of $5,696.
New loan, owes $831k
Working Capital Loan
On April 1 st 2012, the Company signed a working capital loan agreement with Postal Capital Funding, LLC, (“PCF”).
As of December 31, 2013, the loan balance under this agreement was $543,626 including interest of $45,626. As of June 30, 2014, the loan balance under this agreement was $563,382 including interest of $65,382.
Still owes $563k
AI
