INTEREST EXPENSE AND FINANCING FEES

12 Months Ended

Dec. 31, 2021

INTEREST EXPENSE AND FINANCING FEES

INTEREST EXPENSE AND FINANCING FEES

NOTE 12. INTEREST EXPENSE AND FINANCING FEES

Interest expense and financing fees for the periods consisted of the following:

	Year Ended December 31,
	2021						2020
($in thousands)	Interest		Fees1		Total		Interest		Fees1		Total
Convertible preferred shares	$	2,845	$	2,572	$	5,417	$	—	$	—	$	—
Dividend payable		820		—		820		—		—		—
Installment payments - licenses 2		724		—		724		696		—		696
Anti-itch product installment payments		57		—		57		2		—		2
LOC fees		16				16		—		—		—
Total Interest Expense and Financing Fee	$	4,462	$	2,572	$	7,034	$	698	$	—	$	698

Note 1:Amortization of fees in connection with debt raises.

Note 2: Imputed interest expense related to Ximino, Accutane and anti-itch cream acquisitions.

The conversion premium relates to the 15% discount at which the Class A Preferred Stock converts, see Note 14. In accordance with the measurement and recognition guidance of ASC 835-30 Imputation of Interest, the Company will accrete the convertible preferred share settled notes to the estimated settlement amount of $14.8 million.