Veru Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

Debt (Tables)

6 Months Ended

Mar. 31, 2022


	March 31,		September 30,
	2022		2021

Residual royalty agreement liability, fair value at inception	$	346,000	$	346,000
Add: accretion of liability using effective interest rate		7,953,494		5,582,110
Less: cumulative payments		(2,633,842)		(1,144,763)
Residual royalty agreement liability, excluding embedded derivative liability		5,665,652		4,783,347
Add: embedded derivative liability at fair value (see Note 3)		9,289,000		7,851,000
Total residual royalty agreement liability		14,954,652		12,634,347
Residual royalty agreement liability, short-term portion		(3,833,162)		(3,237,211)
Residual royalty agreement liability, long-term portion	$	11,121,490	$	9,397,136

Credit Agreement Interest Expense


	Three Months Ended				Six Months Ended
	March 31,				March 31,
	2022		2021		2022		2021

Amortization of discounts	$	—	$	499,629	$	—	$	1,072,489
Accretion of residual royalty agreement		1,212,702		740,179		2,371,384		1,343,037
Amortization of deferred issuance costs		—		11,743		—		25,208
Interest expense	$	1,212,702	$	1,251,551	$	2,371,384	$	2,440,734

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details