Note 7 - Notes Payable and Advances from Related Party

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Short-term Debt [Text Block]

7. Notes Payable and Advances from Related Party

Notes payable consist of the following:

	September 30, 2021		December 31, 2020
Short-term portion of Avenue Ventures note payable	$	2,083,333	$	-
Short-term notes payable		800,000		1,902,237
	$	2,883,333	$	1,902,237

As of September 30, 2021 and December 31, 2020, Statera had accrued $921,527 and $647,393, respectively, in unpaid interest on notes payable.  Included in this amount $870,332 was unpaid accrued interest related to the Decathlon note. During the nine months ended September 30, 2021, Statera made payments against previously unpaid interest in the amount of $906,212. The full settlement of the remaining principal amount of $800,000 and remaining unpaid accrued interest balance of $870,332 will take place when the Company issues shares in accordance with the payoff and release of security agreement between Decathlon and the Company dated September 16, 2021.

Advances from related party consist of the following:

	September 30, 2021		December 31, 2020
Advance from Noreen Griffin	$	200,000	$	-
	$	200,000	$	-

Refer to Note 16 for further information regarding the advance received from Noreen Griffin.