On October 9, 2019, Long Blockchain Corp. and Long Island Brand Beverages LLC (LIBB), a wholly owned subsidiary of the company, entered into an amendment to each of the loan agreement by and among LIBB, the Company and ECC Ventures 2 Corp. (ECC2), and the promissory note issued by LIBB to ECC2 thereunder, and the loan agreement by and among LIBB, the Company and Long Island Beverage Corp. (LIBC), and the promissory note issued by LIBB to LIBC thereunder, in each case dated as of January 31, 2019 and amended as of June 25, 2019. As previously disclosed, pursuant to the Loan Documents, LIBC has advanced CAD 383,205 (or approximately USD 287,404) to LIBB and ECC2 has advanced CAD 250,000 (or approximately USD 187,500) to LIBB. The Amendments extended the first interest payment date and the maturity date of the Loans. All remaining terms of the Loan Agreements remain unchanged. As amended, the Loans incur interest at a rate of 10% per annum and mature on November 30, 2019. Accrued and unpaid interest is payable in cash on November 30, 2019 and each calendar month thereafter. The Loans are secured by all of the assets of LIBB and are guaranteed by the Company. The guaranty terminates upon consummation of a sale of all or substantially all of the equity or assets of LIBB to LIBC or ECC2 or any of their respective affiliates. As previously disclosed, on September 19, 2019, the Company entered into a restated share purchase agreement, dated as of September 13, 2019, with ECC2 and the shareholders of LIBC, relating to the sale to ECC2 of all issued and outstanding membership interests in LIBB and all issued and outstanding shares of LIBC.