Item 5. Other Information
Item 5. Other Information
Beginning January 18th through April 19th of this year, certain of our directors and officers made loans to the Company, the proceeds of which were used to augment our working capital and for general corporate purposes, including payment of employee compensation and loans to EJ Holdings to fund operations at its facility in Ube, Japan. The loans are evidenced by demand promissory notes of the Company, the form of which is included as Exhibit 10.2 to this Quarterly Report and incorporated herein by reference. The following table sets forth information regarding the related-party loans:
26
Lender
Annual Interest Rate
Date of Loan
Term of Loan
Principal Loan Amount
Soomi Niihara (1)
12
%
1/18/2022
On demand
$
300,000
Yasushi Nagasaki (2)
10
%
2/9/2022
On demand
$
50,000
Hope International Hospice, Inc. (3)
10
%
2/9/2022
On demand
$
350,000
Hope International Hospice, Inc. (3)
10
%
2/15/2022
On demand
$
210,000
Soomi Niihara (1)
10
%
2/15/2022
On demand
$
100,000
George Sekulich (2)
10
%
2/16/2022
On demand
$
25,622
Soomi Niihara (1)
10
%
3/7/2022
On demand
$
200,000
Osato Medical Clinic (4)
12
%
3/11/2022
On demand
$
250,000
Alfred Lui (5)
12
%
3/11/2022
On demand
$
50,000
Hope International Hospice, Inc. (3)
12
%
3/15/2022
On demand
$
150,000
Hope International Hospice, Inc. (3)
12
%
3/30/2022
On demand
$
150,000
Wei Pei Zen (5)
10
%
3/31/2022
On demand
$
200,000
Willis Lee (2) (5)
10
%
4/14/2022
On demand
$
45,000
Total Loan Amount
$
2,080,622
(1)
Soomi Niihara is the wife of Yutaka Niihara, M.D., M.P.H., the Chairman and Chief Executive Officer of the Company.
(2)
Officer of the Company.
(3)
Dr. Niihara is co-owner with his wife, Soomi Niihara, and a director and the Chief Executive Officer of Hope International Hospice, Inc.
(4)
Osato Medical Clinic is owned by Masaharu Osato, M.D., a director of the Company.
(5)
Director of the Company.
27
Item 6. Exhibits
(a) Exhibits
Incorporated by Reference
Exhibit
Number
Exhibit Description
Form
File No.
Exhibit
Filing Date
Filed/
Furnished
10.1
Promissory Note date January18,2022 issued by registrant to Soomi Niihara.
*
10.2
Form of Promissory issued by the registrant to the persons indicated in Schedule A attached to the Form of Promissory Note.
*
10.3
Promissory Note date March 31,2022 issued by registrant to Wei Peu Zen.
*
31.1
Certification of Chief Executive Officer pursuant to Item 601(b)(31) of Regulation S-K, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
*
31.2
Certification of Chief Financial Officer pursuant of Item 601(b)(31) of Regulation S-K, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
*
32.1
Certification of Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
*
101.INS
Inline XBRL Instance Document – the instance document does not appear in the Interactive Data File because XBRL tags are embedded within the Inline XBRL document
101.SCH
Inline XBRL Taxonomy Extension Schema Document
101.CAL
Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF
Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB
Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE
Inline XBRL Taxonomy Extension Presentation Linkbase Document
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
*
Filed herewith.
**
Furnished herewith and not “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, whether made before or after the date hereof and irrespective of any general incorporation language in any filings.
28
EMMAUS LIFE SCIENCES, INC.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Emmaus Life Sciences, Inc.
Dated: May 12, 2022
By:
/s/ Yutaka Niihara
Name:
Yutaka Niihara, M.D., M.P.H.
Its:
Chief Executive Officer
By:
/s/ Yasushi Nagasaki
Name:
Yasushi Nagasaki
Its:
Chief Financial Officer
29
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.