Skye Bioscience, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

Debt (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Schedule of convertible and non-convertible advances

		Conversion Price				As of June 30, 2020				As of December 31, 2019
Total principal value of convertible debt—related party		$	0.40			$	2,014,500			$	2,014,500
Unamortized debt discount							(1,358,687	)			(1,622,344	)
Unamortized debt issuance costs							(4,352	)			(5,086	)
Carrying value of total convertible debt - related party							651,461				387,070
Total principal value of non-convertible debt—related party			n/a				450,000				—
Total carrying value of advances under the multi-draw credit agreement						$	1,101,461			$	387,070

Schedule of interest expense

		Three Months Ended June 30,								Six Months Ended June 30,
		2020				2019				2020				2019
Related party interest expense – stated rate		$	37,726			$	106,167			$	73,371			$	165,277
PPP loan interest expense – stated rate			218				—				218				—
Non-cash interest expense:
Amortization of debt discount			133,310				184,313				263,657				238,293
Amortization of transaction costs			371				3,485				734				6,458
		$	171,625			$	293,965			$	337,980			$	410,028