Quarterly report pursuant to Section 13 or 15(d)

LONG TERM DEBT (Tables)

v3.22.2.2
LONG TERM DEBT (Tables)
9 Months Ended
Sep. 30, 2022
LONG TERM DEBT (Tables)  
Schedule of long-term debt obligations

Long-term debt obligations of Camber Energy, Inc.:

 

September 30,

2022

 

 

December 31,

2021

 

 

 

 

 

 

 

 

Note payable to Discover Growth Fund, pursuant to a Secured Promissory Note dated December 24, 2021 and funded on January 3, 2022 in the original amount of $26,315,789 with interest and principal due at maturity on January 1, 2027. The note bears interest at a rate equal to the Wall Street Journal Prime Rate and is secured by lien on substantially all of the Company’s assets.

 

$

26,315,789

 

 

$

-

 

 

 

 

 

 

 

 

 

 

Note payable to Discover Growth Fund, pursuant to a 10.0% Secured Promissory Note dated December 11, 2020 in the original amount of $6,000,000 with interest and principal due at maturity on January 1, 2027. The Note is secured by lien on substantially all of the Company’s assets.

 

 

6,000,000

 

 

 

6,000,000

 

 

 

 

 

 

 

 

 

 

Note payable to Discover Growth Fund, pursuant to a 10.0% Secured Promissory Note dated December 22, 2020 in the original amount of $12,000,000 with interest and principal due at maturity on January 1, 2027. The Note is secured by first lien on the Company’s ownership in Viking.

 

 

12,000,000

 

 

 

12,000,000

 

 

 

 

 

 

 

 

 

 

Note payable to Discover Growth Fund, LLC pursuant to a 10.0% Secured Promissory Note dated April 23, 2021 in the original amount of $2,500,000 with interest and principal due at maturity on January 1, 2027. The Note is secured by lien on substantially all of the Company’s assets.

 

 

2,500,000

 

 

 

2,500,000

 

 

 

 

 

 

 

 

 

 

Note payable to Discover Growth Fund, LLC pursuant to a 10.0% Secured Promissory Note dated December 9, 2021 in the original amount of $1,000,000 with interest and principal due at maturity on March 8, 2022. The Note is secured by lien on substantially all of the Company’s assets. The note was paid in full on January 4, 2022.

 

 

-

 

 

 

1,000,000

 

 

 

 

 

 

 

 

 

 

Principal value of debt

 

 

46,815,789

 

 

 

21,500,000

 

Less: unamortized debt discount

 

 

(13,699,040

)

 

 

-

 

Total long-term debt, net

 

 

33,116,749

 

 

 

21,500,000

 

Less current portion

 

 

-

 

 

 

 

 

 

 

$

33,116,749

 

 

$

21,500,000

 

Principal maturities of long-term debt

Twelve-month period ended September 30,

 

 

 

 

 

 

 

2023

 

$

-

 

2024

 

 

-

 

2025

 

 

-

 

2026

 

 

-

 

2027

 

 

33,116,749

 

Thereafter

 

 

-

 

 

 

 

 

 

 

 

$

33,116,749