Veru Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Debt (Tables)

Debt (Tables)

12 Months Ended

Sep. 30, 2022


	2022		2021

Residual royalty agreement liability, fair value at inception	$	346,000	$	346,000
Add: accretion of liability using effective interest rate		9,950,908		5,582,110
Less: cumulative payments		(3,765,372)		(1,144,763)
Residual royalty agreement liability, excluding embedded derivative liability		6,531,536		4,783,347
Add: embedded derivative liability at fair value (see Note 3)		4,294,000		7,851,000
Total residual royalty agreement liability		10,825,536		12,634,347
Residual royalty agreement liability, short-term portion		(1,169,095)		(3,237,211)
Residual royalty agreement liability, long-term portion	$	9,656,441	$	9,397,136

Credit Agreement Interest Expense


	2022		2021

Amortization of discounts	$	—	$	1,459,330
Accretion of residual royalty agreement		4,368,798		3,392,423
Amortization of deferred issuance costs		—		34,301
Interest expense	$	4,368,798	$	4,886,054

- 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