Annual report pursuant to Section 13 and 15(d)

Convertible Debt - Related Party (Tables)

v3.20.1
Convertible Debt - Related Party (Tables)
12 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
Schedule of convertible debt

 

 

As of December 31,

 

 

 

2019

 

 

2018

 

Total principal value

 

$ 2,014,500

 

 

$ 2,000,000

 

Unamortized debt discount

 

 

(1,622,344 )

 

 

(587,617 )

Unamortized debt issuance costs

 

 

(5,086 )

 

 

(51,423

)

Carrying value of total convertible debt - related party

 

$ 387,070

 

 

$ 1,360,960

 

Less, noncurrent portion

 

 

(387,070 )

 

 

(1,360,960

)

Current convertible debt – related party

 

$

 

 

$

 

Schedule of interest expense

 

 

Year Ended December 31,

 

 

 

2019

 

 

2018

 

Interest expense - stated rate 

 

$ 371,420

 

 

$ 26,433

 

Non-cash interest expense:

 

 

 

 

 

 

 

 

Amortization of debt discount

 

 

616,383

 

 

 

56,253

 

Amortization of transaction costs

 

 

12,910

 

 

 

2,283

 

Other interest expense

 

 

 

 

 

9,794

 

 

 

$ 1,000,713

 

 

$ 94,763