Quarterly report pursuant to Section 13 or 15(d)

Convertible Debt - Related Party (Tables)

v3.19.2
Convertible Debt - Related Party (Tables)
 6 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]  
Schedule of convertible debt

 

 

As of

June 30,

2019

 

 

As of

December 31,

2018

 

Total principal value

 

 $ 6,000,000

 

 

 $ 2,000,000

 

Unamortized debt discount

 

 

 (2,843,217 )

 

 

 (587,617 )

Unamortized debt issuance costs

 

 

 (54,747 )

 

 

 (51,423 )

Carrying value of total convertible debt - related party

 

 $ 3,102,036

 

 

 $ 1,360,960

 

Less, noncurrent portion

 

 

 (3,102,036 )

 

 

 (1,360,960 )

Current convertible debt - related party

 

 $ -

 

 

 $ -

 
Schedule of interest expense

 

 

Three Months Ended
June 30,

 

 

Six Months Ended

June 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Interest expense – stated rate

 

 $ 106,167

 

 

 $ -

 

 

 $ 165,277

 

 

 $ 3,100

 

Non-cash interest expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of debt discount

 

 

 184,313

 

 

 

 -

 

 

 

 238,293

 

 

 

 34,608

 

Amortization of transaction costs

 

 

 3,485

 

 

 

 -

 

 

 

 6,458

 

 

 

 -

 

 

 

 $ 293,965

 

 

 $ -

 

 

 $ 410,028

 

 

 $ 37,708