Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.21.1
Debt (Tables)
 3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]  
Schedule of convertible and non-convertible advances
The Company’s Debt with Emerald Health Sciences consists of the following:
Conversion
Price		 As of March 31,
2021		 As of December 31,
2020
Total principal value of convertible debt—related party $ 0.40  $ 2,014,500  $ 2,014,500 
Unamortized debt discount (938,724) (1,079,821)
Unamortized debt issuance costs (3,183) (3,576)
Carrying value of total convertible debt - related party 1,072,593  931,103 
Total principal value of non-convertible debt—related party n/a 450,000  450,000 
Total carrying value of advances under the multi-draw credit agreement $ 1,522,593  $ 1,381,103 
Schedule of interest expense
The Company’s interest expense consists of the following:
Three Months Ended
March 31,
2021 2020
Related party interest expense – stated rate $ 43,129  $ 35,645 
PPP loan interest expense – stated rate 286  — 
Non-cash interest expense:
Amortization of debt discount
 141,097  130,347 
Amortization of transaction costs
 393  363 
$ 184,905  $ 166,355