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Debt (Tables)
6 Months Ended
Jun. 30, 2019
Debt (Tables)  
Summary of Debt

 

 

June 30,

2019

 

December 31,

2018

 

Notes payable

 

$

2,400,000

 

$

1,800,000

 

Convertible notes payable

 

702,000

 

581,950

 

Test vehicle financing

 

44,135

 

56,231

 

Note payable related party

 

21,641

 

12,897

 

Note payable UPT minority owner

 

130,000

 

190,000

 

3,297,776

 

2,641,078

 

Debt discount

 

(632,934

)

 

(513,245

)

 

2,664,842

 

2,127,833

 

Less: current portion

 

(2,631,268

)

 

(2,091,014

)

Long-term portion

 

$

33,574

 

$

36,819

 

Notes payable warrants issued

 

 

Number of Warrants

 

Weighted- average Exercise Price

 

Weighted-average Remaining Life

(Years)

 

Aggregate

 Intrinsic Value

 

Outstanding, December 31, 2018

 

14,467,717

 

0.05

 

4.6

 

$

1,564

 

Granted

 

4,400,000

 

0.05

 

Forfeited or expired

 

--

 

--

 

Exercised

 

--

 

--

 

Outstanding, June 30, 2019

 

18,867,717

 

0.05

 

4.2

 

$

379,596

 

Exercisable, June 30, 2019

 

18,867,717

 

0.05

 

4.2

 

$

379,596

 

Future contractual maturities of debt

 

Year ending December 31,

 

2019

 

$

2,000,676

 

2020

 

634,003

 

2021

 

7,358

 

2022

 

8,134

 

2023

 

8,992

 

2024

 

5,679

 

$

2,664,842