Loan and Security Agreement (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of outstanding debt and unamortized debt discount balances


	December 31,		December 31,
	2019		2018

Outstanding principal amount	$	20,000,000	$	6,388,889
Add: accreted liability of final payment fee		404,364		663,459
Less: unamortized debt discount, long term		(405,071)		(99,595)
Less: current portion of long-term debt		(2,666,667)		(3,333,333)
Loan payable, long-term	$	17,332,626	$	3,619,420

Current portion of outstanding principal amount		2,666,667		3,333,333
Less: current portion of unamortized debt discount		(64,375)		(41,939)
Loan payable, current portion	$	2,602,292	$	3,291,394

Schedule of principal payments


2020	$	2,666,667
2021		8,000,000
2022		8,000,000
2023		1,333,333
Total principal payments outstanding	$	20,000,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details