Nate's Food Company (NHMD)

[surfkast]

On November 5, 2015, the Company issued convertible note of $30,000 to Lucosky Brookman, LLC. The Company repays in advance $5,000 per month. The $30,000 bears 0% interest and matures on March 20, 2016. The holder shall be entitled to convert any portion of the outstanding and unpaid conversion amount in to fully paid and non-assessable shares of Common Stock. Conversion price is the 60% of average of the lowest for 10 trading days prior to conversion at the option of the Holder, in whole at any time and from time to time. During the nine months ended February 29, 2016, the notes of $10,000 were repaid. Upon the later of the Maturity Date or that date which is six months following the date hereof, this Note shall be convertible into shares of the Company’s common stock.



Note payable to WB Partners

During the period ended November 30, 2015, the amount the Company borrowed and repaid to WB Partners (Joseph Wade) is nil. The total amount owed was $60,532 as at November 30, 2015. The loan is at 0% interest and is to be repaid by December 31, 2015 and is currently in default. As of May 31, 2015 this note as classified as a note payable to related party and had a balance of $60,532.




Note payable to SouthCorp Capital

On October 20, 2015, the Company issued a Promissory Note to SouthCorp Capital, for $200,000, due October 20, 2017 for a payment for a purchase of the equipment of $177,712 and financing cost of $22,288 related to purchase of this equipment. The Note carries an annual interest rate of 8%. As of November 30, 2015, the Company owes $203,129, of which $3,129 is accrued interest. The deferred financing cost is being amortized over the life of the note using the effective interest method resulting in $1,250 of interest expense for the six months ended November 30, 2015.