Skye Bioscience, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

Debt (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Schedule of convertible and non-convertible advances

		Conversion Price				As of September 30, 2020				As of December 31, 2019
Total principal value of convertible debt—related party		$	0.40			$	2,014,500			$	2,014,500
Unamortized debt discount							(1,220,838	)			(1,622,344	)
Unamortized debt issuance costs							(3,968	)			(5,086	)
Carrying value of total convertible debt - related party							789,694				387,070
Total principal value of non-convertible debt—related party			n/a				450,000				—
Total carrying value of advances under the multi-draw credit agreement						$	1,239,694			$	387,070

Schedule of interest expense

		Three Months Ended September 30,								Nine Months Ended September 30,
		2020				2019				2020				2019
Related party interest expense – stated rate		$	44,087			$	107,334			$	117,459			$	272,611
PPP loan interest expense – stated rate			294				—				511				—
Non-cash interest expense:
Amortization of debt discount			137,849				190,886				401,507				429,355
Amortization of transaction costs			384				3,327				1,117				9,609
		$	182,614			$	301,547			$	520,594			$	711,575