Loan and Security Agreement (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of outstanding debt and unamortized debt discount balances


	March 31,		December 31,
	2020		2019

Total Outstanding Debt	$	20,000,000	$	20,000,000
Add: accreted liability of final payment fee		523,378		404,364
Less: unamortized debt discount, long-term		(312,573)		(405,071)
Less: current portion of long-term debt		(4,666,667)		(2,666,667)
Loan payable, long-term	$	15,544,138	$	17,332,626

Current portion of long-term debt	$	4,666,667	$	2,666,667
Less: current portion of unamortized debt discount		(98,235)		(64,375)
Loan payable, current portion	$	4,568,432	$	2,602,292

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