CONVERTIBLE NOTES (Tables)

6 Months Ended

Jun. 30, 2020

CONVERTIBLE NOTES

Schedule of principal amount and number of shares of common stock issuable upon exercise of their respective warrants

The investors in the offering included two current and one former member of the Board of Directors. The principal amounts of their respective January 2014 Notes are as set forth below:

Investor	Note Principal
Joseph C. McNay	$	25,000
Allan L. Goldstein	$	10,000
L. Thompson Bowles	$	5,000

The affiliated investors, and the principal amount of their respective 2019 Notes purchase are as set forth below:

Investor	Note Principal
Essetifin S.p.A.	$	1,000,000
Joseph C. McNay	$	25,000
J.J. Finkelstein	$	25,000
Mauro Bove	$	10,000
Allan L. Goldstein	$	5,000
R. Don Elsey	$	5,000

Schedule of recorded interest expense and discount accretion

The Company recorded interest expense and discount accretion as set forth below:

	For the three months ended				For the six months ended
	June 30, 2020		June 30, 2019		June 30, 2020		June 30, 2019
January 2014 Notes	$	—	$	—	$	—	$	479
2019 Notes		51,619		39,447		103,238		48,558
Total interest expense	$	51,619	$	39,447	$	103,238	$	49,037