|
The
following table summarizes convertible debt as of March 31, 2019:
| |
|
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 |
|
|
$ |
(7,381,610 |
) |
|
$ |
2,476,401 |
|
|
$ |
10,094,791 |
|
| 6.5%
convertible senior notes |
|
11/30/2023 |
|
|
6.50 |
% |
|
$ |
5.10 |
|
|
$ |
10,000,000 |
|
|
$ |
(995,202 |
) |
|
$ |
— |
|
|
$ |
9,004,798 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ending
Balance as of March 31, 2019 |
|
|
|
|
|
|
|
|
|
|
|
$ |
25,000,000 |
|
|
$ |
(8,376,812 |
) |
|
$ |
2,476,401 |
|
|
$ |
19,099,589 |
|