Replies to post #247658 on 1812 Brewing Company Inc (KEGSD)

[THall]

If you actually read the filings you would know the debt is 15 million. 14 million secured by shares and an additional $1.2 million loan for Maggies secured by realestate

Trading symbol: KEGS
Exact title and class of securities outstanding: Common Stock
CUSIP: 812815 504
Par or stated value: $0.0001
Total shares authorized: 20,000,000,000 at September 30, 2024
Total shares outstanding: 10,804,739,557 at September 30, 2024
Number of shares in the Public Float: 8,486,595,465 at September 30, 2024
Total number of shareholders of record: 250 at September 30, 2024

Total Liabilities $ 14,135,854

Accumulated Deficit $ (14,405,129)

As previously announced, 1812 Brewing Company, Inc. (the “Company”) had been in discussions with its two
convertible debenture (“CD”) holders and a third-party Trillium Partners LP (“Trillium”) to restructure and ultimately
eliminate convertible debt, plus accrued interest, that totaled $13,712,779 as of the period ended June 30, 2022.
As also reported, Trillium and the CD holders entered into an agreement to transfer this debt to Trillium. Elimination
of this debt was and is a top priority for the Company. In 2020 and 2021 alone, the accrued interest on these CDs
generated interest expense of $1.9 million. On October 17, 2022, the Company entered into a Settlement Agreement
and Stipulation with Trillium (“Settlement Agreement”), subject to court review and approval, whereby the Company
agreed to issue shares of common stock to Trillium pursuant to the Section 3(a)10 exemption at a discount of 35%
to the market price (versus a 50% discount that the Company was contractually obliged with the former Convertible
Noteholders). Full satisfaction of the Settlement Agreement would discharge the Company’s convertible debenture
liabilities for $8,486,342 of proceeds to the former CD holders, which represented a reduction of approximately $5
million (or approximately 37% of the outstanding obligations) to the original CD holders.