Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.21.2
Debt (Tables)
 6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]  
Schedule of convertible and non-convertible advances
The Company’s Debt with Emerald Health Sciences consists of the following:
Conversion
Price		 As of June 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 (792,839) (1,079,821)
Unamortized debt issuance costs (2,777) (3,576)
Carrying value of total convertible debt - related party 1,218,884  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 $ 1,668,884  $ 1,381,103 
Schedule of interest expense
The Company’s interest expense consists of the following:
Three Months Ended
June 30,		 Six Months Ended
June 30,
2021 2020 2021 2020
Related party interest expense – stated rate $ 43,608  $ 37,726  $ 86,737  $ 73,371 
PPP loan interest expense – stated rate 159  218  445  218 
Non-cash interest expense:
Amortization of debt discount
 145,885  133,310  286,982  263,657 
Amortization of transaction costs
 406  371  799  734 
$ 190,058  $ 171,625  $ 374,963  $ 337,980