Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.22.2.2
Debt (Tables)
 9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Schedule of debt
The Company’s Debt with Sciences consists of the following:
Conversion
Price		 As of September 30,
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 (8,535) (487,668)
Unamortized debt issuance costs (594) (1,927)
Carrying value of total convertible debt - related party 2,005,371  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 $ 2,455,371  $ 1,974,905 
Schedule of interest expense
The Company’s interest expense consists of the following:
Three Months Ended
September 30,		 Nine Months Ended
September 30,
2022 2021 2022 2021
Related party interest expense – stated rate $ 44,086  $ 44,086  $ 130,824  $ 130,824 
Insurance premium loan payable - stated rate 1,602  —  4,273  — 
PPP loan interest expense – stated rate —  —  —  445 
Non-cash interest expense:
Amortization of debt discount 165,082  150,852  479,133  437,834 
Amortization of transaction costs 459  420  1,333  1,219 
$ 211,229  $ 195,358  $ 615,563  $ 570,322