Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Components of the 12% Amended Senior Secured Notes and Carrying Values

The following table represents the components of the 12% Amended Senior Secured Notes recognized during the year ended December 31, 2019 and carrying value as of December 31, 2019:

	12% Amended Senior Secured Notes
Principal amount of debt:
Principal amount of debt received on June 10, 2019	$	20,000,000
Principal amount of debt received on June 14, 2019		48,000,000
Principal amount of debt received on August 27, 2019		3,000,000
Subtotal principal amount of debt		71,000,000
Add accrued interest		1,082,642
Less principal payment paid in Series J Preferred Stock (net of interest of $146,067)		(4,853,933	)
Less principal payments paid in cash		(17,307,364	)
Principal amount of debt outstanding including accrued interest		49,921,345
Debt discount:
Placement fee to B. Riley FBR		(3,550,000	)
Success based fee to B. Riley FBR		(3,400,000	)
Legal and other costs		(202,382	)
Subtotal debt discount		(7,152,382	)
Less amortization of debt discount		1,240,782
Unamortized debt discount		(5,911,600	)
Carrying value at December 31, 2019	$	44,009,745

Summary of Interest Expense

The following table summarizes the interest expense for the year ended December 31, 2019:

	12% Convertible Debentures		12% Amended Senior Secured Notes		Officer Promissory Notes		Total Interest Expense
Amortization of debt discount	$	3,304,893	$	1,240,782	$	-	$	4,545,675
Accrued interest		1,831,130		1,228,709		5,794		3,065,633
Cash paid interest				2,351,404		983		2,352,887
Totals	$	5,136,023	$	4,821,395	$	6,777		9,964,195
Cash paid for other interest								499,375
Total interest expense							$	10,463,570

The following table summarizes the interest expense for the year ended December 31, 2018:

	8% Promissory Notes			10% Convertible Debentures			10% OID Convertible Debentures			12% Convertible Debentures		Total Interest Expense
Accretion of original issue discount	$	44,133		$	-		$	25,463		$	-	$	69,596
Amortization of debt discount		315,309			64,452			68,637			153,442		601,840
Loss on extinguishment of debt		292,201			885,080			173,056			-		1,350,337
Gain on extinguishment of embedded derivative liabilities upon extinguishment of host instrument		(29,860	)		(1,042,000	)		(25,000	)		-		(1,096,860	)
Write off unamortized debt discount upon extinguishment of debt		460,278			406,550			403,088			-		1,269,916
Accrued interest		-			69,920			28,009			82,913		180,842
Other interest		20,986			-			-			-		20,986
Totals	$	1,103,047		$	384,002		$	673,253		$	236,355		2,396,657
Accrued interest on Officer Promissory Notes													12,574
Other interest													99,643
Total interest expense												$	2,508,874