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RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Note 4 - RELATED PARTY TRANSACTIONS

As of June 30, 2016, the Company has accounts payable of €232,798 ($258,494) to DOC Pharma S.A., this comprises over 10% of the Company's total payable balance. As of December 31, 2015, the Company owed €111,000 ($121,063) to DOC Pharms S.A.

On November 1, 2015, the Company entered into a €12,000 ($13,325) Loan Agreement with DOC Pharma S.A, pursuant to which DOC Pharma S.A., paid existing bills of the Company in the amount of €12,000, excluding the Vendor Bills. The loan will bear an interest rate of 2% per annum and will be due and payable in full on October 31, 2016. As of June 30, 2016, the Company has an outstanding principal balance under this note of $13,325 and accrued interest expense of €159 ($176).

On March 4, 2015, the Company entered into a $9,000 Loan Agreement with Mr. Angelos Drakopoulos, pursuant to which the Mr. Drakopoulos paid a $9,000 outstanding bill on behalf of the Company. The loan will bear an interest rate of 8% per annum and will be due and payable in full on May 5, 2016. As of June 30, 2016, the Company has an outstanding principal balance under this note of $9,000 and accrued interest expense of $460.

During the year ended December 31, 2015, the Company borrowed €30,000 ($33,311) as a loan payable from Mr. Panagiotis Drakopoulos, former Director and former Chief Executive Officer. The loan has no formal agreement and bear no interest. As of June 30, 2016, the Company has an outstanding principal balance under this note of $33,311. In April 2015, the Company remitted $6,000 to Panagiotis Drakopoulos, a former officer of the Company, in connection with the repayment of accrued and unpaid salary and the prior forgiveness and cancellation by Drakopoulos of other amounts owed by the Company. On November 16, 2015, the Company entered into another Loan Agreement with Panagiotis Drakopoulos, pursuant to which the Company borrowed €40,000 ($44,415) as note payable from Mr. Drakopoulos. The note will bear an interest rate of 6% per annum and is due and payable in full on November 15, 2016. As of June 30, 2016, the Company has an outstanding principal balance under this note of $44,416 and accrued interest expense of €1,500 ($1,666).

As of June 30, 2016 the Company has accrued €4,355 ($4,836) in board of directors' fees and related taxes for Grigorios Siokas, Chief Executive Officer. During the year ended December 31, 2015, the Company borrowed €10,000 ($11,104) as loan payable from Mr. Grigorios Siokas. The loan has no formal agreement and bears no interest. During the six months ended June 30, 2016, €6,000 ($6,662) of the loan from Mr. Siokas was repaid.

During the year ended December 31, 2015, the Company borrowed €4,500 ($4,997) from Mrs. Ourania Matsouki, wife of Mr. Grigorios Siokas, Chief Executive Officer. This loan has no formal agreement and bears no interest. This loan was paid back in full during the six months ended June 30, 2016.

Grigorios Siokas, the Chief Executive Officer and Director of the Company entered into the following transactions to purchase shares of Common Stock of the Company:

Seller		Date		Amount of Shares				Aggregate Purchase Price

Vasileios Mavrogiannis		January 8, 2016			2,650,000			$	1.00
Vasileios Mavrogiannis		January 8, 2016			1,666,666			$	1.00
Panagiotis Drakopoulos		January 8, 2016			2,400,000			$	1.00
Panagiotis Drakopoulos		January 11, 2016			2,000,000			$	1.00

None of the proceeds of these sales were paid to the Company.

On November 4, 2015, Mr. Dimitrios Goulielmos (the "Seller") and Mr. Grigorios Siokas (the "Buyer") entered into a stock purchase agreement, whereby Mr. Goulielmos sold 95,000,000 shares of common stock to Mr. Siokas for $1.00. As part of the agreement, the Seller forgave and released the Company and the Company's subsidiary from all claims except for the repayment of €200,000 that was loaned by the Seller to SkyPharm. In exchange, the Buyer pledged to pay various obligations of the Company as listed in the Annex of the agreement as follows: $16,357 to Malone Bailey, $3,000 in accounting fees, $2,400 to Terzis, the Amplerissimo tax liability of €817,811 and various other obligations estimated between $5,000 and $10,000 (collectively the "Vendor Bills"). The Company subsequently paid the Vendor Bills. Notwithstanding the non-payment of the Vendor Bills by the buyer at that time, in connection with the sale of common stock to Mr. Siokas, on February 26, 2016, Dimitrios Goulielmos resigned from his positions as Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO") of Cosmos Holdings, Inc. (the "Company") but retained his position as a director on the Board of Directors. The Board of Directors appointed Grigorios Siokas to the offices of CEO and CFO and elected him to fill a vacancy and serve on the Board of Directors and as the Chairman of the Board.

On November 21, 2014, SkyPharm entered into a Loan Agreement with Dimitrios Goulielmos, then the Chief Executive Officer and a director of the Company, pursuant to which the Borrower borrowed €330,000 ($366,432) from Mr. Goulielmos. The Loan will bear an interest rate of 2% per annum and will be due and payable in full on May 11, 2015. On November 4, 2015, €130,000 ($147,619) in principal and the related accrued interest of €733 ($806) was forgiven and the remaining balance of €200,000 will no longer accrue interest as part of the stock purchase agreement with Grigorios Siokas on November 4, 2015 referenced above. As of June 30, 2016, €10,000 ($11,104) of the loan was paid back, and a principal balance of €190,000 ($210,972) and €0.00 of accrued interest remains. On December 29, 2014, the Company borrowed $3,000 from Dimitrios Goulielmos, the former Chief Executive Officer and a director of the Company. The loan was non-interest bearing and was repaid in full in January 2015.