Quarterly report pursuant to Section 13 or 15(d)

Convertible Notes (Tables)

v3.19.1
Convertible Notes (Tables)
9 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
Schedule of debt

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