Company: BCHT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001477932-25-002237
Chunk: 564

Company: Birchtech Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 564
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 difference in fair value of the note on the date of the exchange.

 F-17Table of Contents

On February 27, 2024, the Company paid AC Midwest $275,625 representing the remaining principal balance under the AC Midwest Secured Note of $271,686 plus interest of $3,939. As a result of the repayment of the remaining principal balance under the AC Midwest Secured Debt, the Company and AC Midwest executed a Satisfaction and Discharge of Secured Debt confirming the cancellation of the AC Midwest Secured Note. As of December 31, 2024 and December 31, 2023, total principal of $0 and $271,686, respectively, was outstanding on this note. Interest expense for the years ended December 31, 2024 and 2023 was $4,279 and $43,955, respectively. Amortized discount recorded as interest expense for the years ended December 31, 2024 and 2023 was $32,220 and $19,504, respectively. As of December 31, 2024 and 2023, the unamortized balance of the discount was $Nil and $32,220, respectively. Unsecured Note Payable The Company has the following unsecured note payable - related party outstanding as of December 31, 2024 and December 31, 2023:    December 31,  December 31,   2024  2023 Unsecured note payable $13,154,931  $13,154,931          Repayments  (12,314,895 )  - Less fair value adjustment on extinguishment, net of amortized discount of $1,965,984 and $1,547,536, respectively  (960,000 )  (2,175,208 )Plus fair value adjustment  119,964   -          Total unsecured note payable  -   10,979,723          Less current portion  -   -          Unsecured note payable, net of current portion $-  $10,979,723  On November 29, 2016, pursuant to a restated financing agreement entered with AC Midwest on November 1, 2016, the Company closed on an unsecured note with AC Midwest (the “AC Midwest Subordinated Note”), which was to mature on