| Schedule of convertible debt |
| | As of September 30, 2019 | | | As of December 31, 2018 | | Total principal value | | $ | 6,000,000 | | | $ | 2,000,000 | | Unamortized debt discount | | | (2,652,112 | ) | | | (587,617 | ) | Unamortized debt issuance costs | | | (51,639 | ) | | | (51,423 | ) | Carrying value of total convertible debt - related party | | $ | 3,296,249 | | | $ | 1,360,960 | | Less, noncurrent portion | | | (3,296,249 | ) | | | (1,360,960 | ) | Current convertible debt - related party | | $ | - | | | $ | - | |
|
|
|
|
As of December 31,
|
|
|
|
|
2018
|
|
|
2017
|
|
|
Total principal value
|
|
$ |
2,000,000 |
|
|
$ |
500,000 |
|
|
Unamortized debt discount
|
|
|
(587,617 |
) |
|
|
(265,000 |
) |
|
Unamortized debt issuance costs
|
|
|
(51,423 |
) |
|
|
- |
|
|
Carrying value of total convertible debt – related party
|
|
$ |
1,360,960 |
|
|
$ |
235,000 |
|
|
Less, noncurrent portion
|
|
|
(1,360,960 |
) |
|
|
- |
|
|
Current convertible debt – related party
|
|
$ |
- |
|
|
$ |
235,000 |
|
|
| Schedule of interest expense |
| | Three Months Ended September 30, | | | Nine Months Ended September 30, | | | | 2019 | | | 2018 | | | 2019 | | | 2018 | | Interest expense – stated rate | | $ | 107,334 | | | $ | - | | | $ | 272,611 | | | $ | 3,100 | | Non-cash interest expense: | | | | | | | | | | | | | | | | | Amortization of debt discount | | | 190,886 | | | | - | | | | 429,355 | | | | 34,608 | | Amortization of transaction costs | | | 3,327 | | | | - | | | | 9,609 | | | | - | | | | $ | 301,547 | | | $ | - | | | $ | 711,575 | | | $ | 37,708 | |
|
|
|
|
Years Ended December 31,
|
|
|
|
|
2018
|
|
|
2017
|
|
|
Coupon interest expense
|
|
$ |
26,433 |
|
|
$ |
667 |
|
|
Noncash Interest Expense
|
|
|
|
|
|
|
|
|
|
Amortization of debt discount
|
|
|
56,253 |
|
|
|
- |
|
|
Amortization of transaction costs
|
|
|
2,283 |
|
|
|
- |
|
|
Other interest expense
|
|
|
9,794 |
|
|
|
|
|
|
|
|
$ |
94,763 |
|
|
$ |
667 |
|
|