Note. 16. Subsequent Events

October 2018 Note Conversion

On January 7, 2021, the Company issued 980,400 shares of its common stock upon the conversion of $5.0 million principal amount of October 2018 Notes.

On January 26, 2021, the Company issued 980,400 shares of its common stock upon the conversion of the remaining $5.0 million principal amount of October 2018 Notes.

Redemption of May 2018 Notes

On January 25, 2021, the Company provided a notice of redemption to the holders of the Company’s outstanding $15,000,000 aggregate principal amount of 6.5% Convertible Senior Secured Notes due 2023 (CUSIP No: 00973N AA0) (the “May 2018 Notes”) regarding the Company’s exercise of its option to redeem all May 2018 Notes on March 1, 2021, unless earlier converted as described below, pursuant to the indenture governing the May 2018 Notes. The Company will pay holders of the May 2018 Notes that are redeemed a redemption price equal to 100% of the aggregate principal amount of October 2018 Notes being redeemed, plus accrued and unpaid interest with respect to those October 2018 Notes that are redeemed.

Alternatively, holders of the May 2018 Notes may elect to convert the May 2018 Notes into shares of common stock of the Company at a conversion rate equal to 200 shares of common stock per $1,000 principal amount of May 2018 Notes (equivalent to a conversion price of $5.00 per share) and an interest-make whole payment.