Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

v3.19.1
Subsequent Events
3 Months Ended
Mar. 31, 2019
Subsequent Events [Abstract]  
Subsequent Events [Text Block]
Note 10 — Subsequent Events
 
Receivables Financing
 
In April 2019, we entered into a receivables financing arrangement for certain receivables of the Company. The agreement allows for borrowing up to 80% of the outstanding receivable based on the credit quality of the customer. The fee is between 1% and 2% of the total invoice financed.
 
Convertible Note
 
On May 13, 2019, Edison Nation, Inc. (the “Company”) entered into a 2% senior secured, senior convertible promissory note (the “Note”) for up to $1,000,000. The Company will issue 30,000 shares of its common stock, par value $0.001 per share (“Common Stock”) to the note holder as additional consideration for the purchase of the Note. Under the terms of the note, the note holder will have piggyback registration rights. On May 13, 2019, the Company borrowed $600,000 under the note.
 
Share Issuances
 
On May 6, 2019, we issued 12,500 shares of our common stock valued at $48,375 to an innovator in connection with their licensing agreement.