Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Senior Secured Notes and Delayed Draw Term Note

The following table represents the components of the Senior Secured Note and Delayed Draw Term Note:

	As of and for the Years Ended December 31,
	2021									2020
	Senior Secured Note Components			Delayed Draw Term Note Components			Total			Senior Secured Note Components			Delayed Draw Term Note Components			Total
Principal amount of debt:
Principal amount of debt received on June 10, 2019	$	20,000,000		$	-		$	20,000,000		$	20,000,000		$	-		$	20,000,000
Principal amount of debt received on June 14, 2019		48,000,000			-			48,000,000			48,000,000			-			48,000,000
Principal amount of debt received on August 27, 2019		3,000,000			-			3,000,000			3,000,000			-			3,000,000
Principal amount of debt received on March 26, 2020		-			6,913,865			6,913,865			-			6,913,865			6,913,865
Principal amount of debt received on December 28, 2021		-			5,086,135			5,086,135			-			-			-
Subtotal principal amount of debt		71,000,000			12,000,000			83,000,000			71,000,000			6,913,865			77,913,865
Add accrued interest		13,852,050			1,223,506			15,075,556			7,457,388			675,958			8,133,346
Less principal payment paid in Series J Preferred Stock (net of interest of $146,067)		(4,853,933	)		-			(4,853,933	)		(4,853,933	)		-			(4,853,933	)
Less principal payment paid in Series K Preferred Stock (net of interest of $71,495)		-			(3,295,505	)		(3,295,505	)		-			(3,295,505	)		(3,295,505	)
Less principal payments paid in cash		(17,307,364	)		-			(17,307,364	)		(17,307,364	)		-			(17,307,364	)
Principal amount of debt outstanding including accrued interest		62,690,753			9,928,001			72,618,754			56,296,091			4,294,318			60,590,409
Debt discount:
Placement fee to B. Riley FBR		(3,550,000	)		(691,387	)		(4,241,387	)		(3,550,000	)		(691,387	)		(4,241,387	)
Commitment fee (2% of unused commitment)		-			(101,723	)		(101,723	)		-			(101,723	)		(101,723	)
Success based fee to B. Riley FBR		(3,400,000	)		-			(3,400,000	)		(3,400,000	)		-			(3,400,000	)
Legal and other costs		(202,382	)		(120,755	)		(323,137	)		(202,382	)		(120,755	)		(323,137	)
Commitment fee due December 28, 2021		-			(508,614	)		(508,614	)		-			-			-
Subtotal debt discount		(7,152,382	)		(1,422,479	)		(8,574,861	)		(7,152,382	)		(913,865	)		(8,066,247	)
Less amortization of debt discount		5,217,914			855,007			6,072,921			3,412,692			554,693			3,967,385
Unamortized debt discount		(1,934,468	)		(567,472	)		(2,501,940	)		(3,739,690	)		(359,172	)		(4,098,862	)
Carrying value at year-end	$	60,756,285		$	9,360,529		$	70,116,814		$	52,556,401		$	3,935,146		$	56,491,547

Schedule of Long Term Debt

The following table summarizes long-term debt:

	As of December 31,
	2021								2020
	Principal Balance (including accrued interest)		Unamortized Discount and Debt Issuance Costs			Carrying Value			Principal Balance (including accrued interest)		Unamortized Discount and Debt Issuance Costs			Carrying Value
Senior Secured Note, as amended, matures December 31, 2023	$	62,690,753	$	(1,934,468	)	$	60,756,285		$	56,296,091	$	(3,739,690	)	$	52,556,401
Delayed Draw Term Note, as amended, matures December 31, 2023		9,928,001		(567,472	)		9,360,529			4,294,318		(359,172	)		3,935,146
Paycheck Protection Program Loan, scheduled to mature April 6, 2022, fully forgiven June 22, 2021		-		-			-			5,702,725		-			5,702,725
Total	$	72,618,754	$	(2,501,940	)		70,116,814		$	66,293,134	$	(4,098,862	)		62,194,272
Less current portion							(5,744,303	)							-
Long-term portion						$	64,372,511							$	62,194,272

Schedule of Principal Maturities of Long-term Debt

The following table summarizes principal maturities of long-term debt:

Years Ending December 31,
2022	$	5,924,668
2023		66,694,086
	$	72,618,754

Summary of Interest Expense

The following table represents interest expense:

	Years Ended December 31,
	2021		2020
Amortization of debt discounts:
12% Convertible Debentures	$	-	$	3,880,609
Senior Secured Note		1,805,222		2,171,910
Delayed Draw Term Note		300,314		554,693
Total amortization of debt discount		2,105,536		6,607,212
Accrued and noncash converted interest:
12% Convertible Debentures		-		2,116,281
Senior Secured Note		6,394,662		6,374,746
Delayed Draw Term Note		547,548		747,453
Payroll Protection Program Loan		13,972		-
Promissory Note		-		5,844
Total accrued and noncash converted interest		6,956,182		9,244,324
Cash paid interest:
Other		1,392,900		645,681
Total interest expense	$	10,454,618	$	16,497,217