| Schedule of convertible debt |
|
|
As of
September 30,
2019
|
|
|
As of
December 31,
2018
|
|
Total principal value |
|
$ |
6,000,000 |
|
|
$ |
2,000,000 |
|
Unamortized debt discount |
|
|
(2,652,112 |
) |
|
|
(587,617 |
) |
Unamortized debt issuance costs |
|
|
(51,639 |
) |
|
|
(51,423 |
) |
Carrying value of total convertible debt - related party |
|
$ |
3,296,249 |
|
|
$ |
1,360,960 |
|
Less, noncurrent portion |
|
|
(3,296,249 |
) |
|
|
(1,360,960 |
) |
Current convertible debt - related party |
|
$ |
- |
|
|
$ |
- |
|
|
|
|
|
As of December 31,
|
|
|
|
|
2018
|
|
|
2017
|
|
|
Total principal value
|
|
$ |
2,000,000 |
|
|
$ |
500,000 |
|
|
Unamortized debt discount
|
|
|
(587,617 |
) |
|
|
(265,000 |
) |
|
Unamortized debt issuance costs
|
|
|
(51,423 |
) |
|
|
- |
|
|
Carrying value of total convertible debt – related party
|
|
$ |
1,360,960 |
|
|
$ |
235,000 |
|
|
Less, noncurrent portion
|
|
|
(1,360,960 |
) |
|
|
- |
|
|
Current convertible debt – related party
|
|
$ |
- |
|
|
$ |
235,000 |
|
|
| Schedule of interest expense |
|
|
Three Months Ended
September 30,
|
|
|
Nine Months Ended
September 30,
|
|
|
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
Interest expense – stated rate |
|
$ |
107,334 |
|
|
$ |
- |
|
|
$ |
272,611 |
|
|
$ |
3,100 |
|
Non-cash interest expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of debt discount |
|
|
190,886 |
|
|
|
- |
|
|
|
429,355 |
|
|
|
34,608 |
|
Amortization of transaction costs |
|
|
3,327 |
|
|
|
- |
|
|
|
9,609 |
|
|
|
- |
|
|
|
$ |
301,547 |
|
|
$ |
- |
|
|
$ |
711,575 |
|
|
$ |
37,708 |
|
|
|
|
|
Years Ended December 31,
|
|
|
|
|
2018
|
|
|
2017
|
|
|
Coupon interest expense
|
|
$ |
26,433 |
|
|
$ |
667 |
|
|
Noncash Interest Expense
|
|
|
|
|
|
|
|
|
|
Amortization of debt discount
|
|
|
56,253 |
|
|
|
- |
|
|
Amortization of transaction costs
|
|
|
2,283 |
|
|
|
- |
|
|
Other interest expense
|
|
|
9,794 |
|
|
|
|
|
|
|
|
$ |
94,763 |
|
|
$ |
667 |
|
|