LONG-TERM DEBT, NET (Tables)

9 Months Ended

Sep. 30, 2020

LONG-TERM DEBT, NET

Schedule of Long-term Debt

Long-term debt consists of the following at September 30, 2020:

Principal amount	$	15,000,000
Less unamortized debt acquisition costs		(51,145)
Plus accrued final fee		210,937
Subtotal		15,159,792
Less Current maturities		(9,166,667)
Long-term debt net of current maturities	$	5,993,125

Schedule of Principal payments of long-term debt

Principal payments of long-term debt are due as follows during the twelve months ending September 30^th:

2021	$	9,166,667
2022		5,833,333
Total	$	15,000,000