Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.21.2
Debt (Tables)
 9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Schedule of Debt
The Company’s Debt with Sciences consists of the following:
Conversion
Price		 As of September 30,
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 (641,987) (1,079,821)
Unamortized debt issuance costs (2,357) (3,576)
Carrying value of total convertible debt - related party 1,370,156  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 $ 1,820,156  $ 1,381,103 
Schedule of Interest Expense
The Company’s interest expense consists of the following:
Three Months Ended
September 30,		 Nine Months Ended
September 30,
2021 2020 2021 2020
Related party interest expense – stated rate $ 44,086  $ 44,087  $ 130,824  $ 117,459 
PPP loan interest expense – stated rate —  294  445  511 
Non-cash interest expense:
Amortization of debt discount
 150,852  137,849  437,834  401,507 
Amortization of transaction costs
 420  384  1,219  1,117 
$ 195,358  $ 182,614  $ 570,322  $ 520,594