Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.22.1
Debt (Tables)
 3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Schedule of debt
The Company’s Debt with Sciences consists of the following:
Conversion
Price		 As of March 31,
2022		 As of December 31,
2021
Total principal value of convertible debt—related party $ 0.40  $ 2,014,500  $ 2,014,500 
Unamortized debt discount (333,260) (487,668)
Unamortized debt issuance costs (1,499) (1,927)
Carrying value of total convertible debt - related party 1,679,741  1,524,905 
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 $ 2,129,741  $ 1,974,905 
Schedule of interest expense
The Company’s interest expense consists of the following:
Three Months Ended
March 31,
2022 2021
Related party interest expense – stated rate $ 43,128  $ 43,129 
Insurance premium loan payable - stated rate 1,069  — 
PPP loan interest expense – stated rate —  286 
Non-cash interest expense:
Amortization of debt discount 154,406  141,097 
Amortization of transaction costs 430  393 
$ 199,033  $ 184,905