Note Payable (Tables)

6 Months Ended

Dec. 31, 2016

The note payable is comprised of the following at:

	December 31, 2016		June 30, 2016
	(Unaudited)
Note payable	$	3,500,000	$	2,712,787
Less: unamortized loan discount		-		(154,462	)
Less: unamortized debt issuance costs		-		(79,605	)
Total note payable, net	$	3,500,000	$	2,478,720

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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+ Details

XFIT BRANDS, INC. 10-Q