Company: SNWV
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050280
Chunk: 84

Company: SANUWAVE Health, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 84
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 million promissory note with a related party. Interest was accrued at 12% with an original maturity date of December 3, 2024. The Note was paid in full with accrued interest in October 2024.Acquisition Convertible promissory notes payable - In August 2020, the Company entered into an asset purchase agreement with Celularity to acquire Celularity’s UltraMIST assets. A portion of the aggregate consideration of $24 million paid for the assets included the issuance of a promissory note to Celularity in the principal amount of $4 million (the “Seller Note”). The Seller Note matured on August 6, 2021, and was not repaid. The Company’s failure to pay the outstanding principal balance when due constituted an event of default under the terms of the Seller Note and, accordingly, 

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it began accruing additional interest of 5.0% in addition to the 12.0% initial rate, as of the date of the default. As of December 31, 2024, the Seller Note had outstanding accrued interest of $0. This Seller Note was settled in 2024 for a cash payment of $2.2 million.Convertible promissory notes payable, related party - In August 2020, the Company issued a convertible promissory note payable in the amount of $1.4 million. The note matured on August 6, 2021, and was not repaid and thus was in default. As of December 31, 2024, the note had outstanding accrued interest of $0.The convertible promissory note was settled in 2024 for a cash payment of $1.4 million, which resulted in a gain on the extinguishment of debt of $0.8 million and a reduction in accrued interest of $0.8 million.

11.        Revenue

The disaggregation of revenue is based on type. The following table presents revenue from contracts with customers:Three Months Ended September 30, 2025Three Months Ended September 30, 2024Consumables and parts revenue$7,026 $5,620 System revenue4,391 3,661 License fees and other5 10 Product Revenue$11,422 $9,291 Rental Income29 69 Total Revenue$11,451 $9,360 Nine Months Ended September 30, 2025Nine Months Ended September 30, 2024Consum