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Debt (Tables)
9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
Schedule of convertible and non-convertible advances

 

 

 

Conversion

Price

 

 

As of

September 30,

2020

 

 

As of

December 31,

2019

 

Total principal value of convertible debt—related party

 

$0.40

 

 

$2,014,500

 

 

$2,014,500

 

Unamortized debt discount

 

 

 

 

 

 

(1,220,838)

 

 

(1,622,344)

Unamortized debt issuance costs

 

 

 

 

 

 

(3,968)

 

 

(5,086)

Carrying value of total convertible debt - related party

 

 

 

 

 

 

789,694

 

 

 

387,070

 

Total principal value of non-convertible debt—related party

 

 

n/a

 

 

 

450,000

 

 

 

 

Total carrying value of advances under the multi-draw credit agreement

 

 

 

 

 

$1,239,694

 

 

$387,070

 

Schedule of interest expense

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended

September 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Related party interest expense – stated rate

 

$44,087

 

 

$107,334

 

 

$117,459

 

 

$272,611

 

PPP loan interest expense – stated rate

 

 

294

 

 

 

 

 

 

511

 

 

 

 

Non-cash interest expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of debt discount

 

 

137,849

 

 

 

190,886

 

 

 

401,507

 

 

 

429,355

 

Amortization of transaction costs

 

 

384

 

 

 

3,327

 

 

 

1,117

 

 

 

9,609

 

 

 

$182,614

 

 

$301,547

 

 

$520,594

 

 

$711,575