Business Context and Reporting Period
This Form 8-K is filed by Eastside Distilling, Inc. (not Beeline Holdings, Inc.) for the reporting period of June 1, 2016. The filing addresses a specific corporate event under Item 8.01 Other Events.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, or margin data. It specifically details the following debt-related figures regarding a 14% Secured Convertible Promissory Note:
- Original Principal Amount: $219,200.65
- Total Prepayment Amount: $196,084.25
- Unpaid Principal: $194,200.65
- Accrued and Unpaid Interest: $1,883.60
Material Changes
The company notified MR Group I, LLC of its intention to prepay the aforementioned Note in full on June 6, 2016. This action reduces the company's outstanding debt obligations by the total prepayment amount specified above.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or discussion of general risks and contingencies beyond the specific debt repayment event.
Investor Verification Checklist
- Verify the successful execution of the $196,084.25 prepayment on June 6, 2016.
- Confirm the release of the security interest associated with the 14% Secured Convertible Promissory Note.
- Review subsequent filings to ensure no new debt instruments were issued to fund this prepayment.