|
The following table summarizes
convertible debt as of December 31, 2018:
| |
|
Maturity Date |
|
State
Interest Rate |
|
|
Conversion
Price |
|
|
Face
Value |
|
|
Remaining
Debt
(Discount) |
|
|
Fair
Value of
Embedded
Conversion Option |
|
|
Carrying
Value |
|
| Long
Term convertible notes payable |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 6.5% convertible
senior secured notes |
|
5/31/2023 |
|
|
6.50 |
% |
|
$ |
5.00 |
|
|
$ |
15,000,000 |
|
|
$ |
(7,876,770 |
) |
|
$ |
909,000 |
|
|
$ |
8,032,230 |
|
| 6.5% convertible senior
notes |
|
11/30/2023 |
|
|
6.50 |
% |
|
$ |
5.10 |
|
|
$ |
10,000,000 |
|
|
$ |
(1,076,030 |
) |
|
$ |
— |
|
|
$ |
8,923,970 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ending Balance as of
December 31, 2018 |
|
|
|
|
|
|
|
|
|
|
|
$ |
25,000,000 |
|
|
$ |
(8,952,800 |
) |
|
$ |
909,000 |
|
|
$ |
16,956,200 |
|
|