Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.23.3
Debt (Tables)
9 Months Ended
Jun. 30, 2023
Debt [Abstract]  
Residual Royalty Agreement Liability

June 30,

September 30,

2023

2022

Residual royalty agreement liability, fair value at inception

$

346,000

$

346,000

Add: accretion of liability using effective interest rate

12,170,748

9,950,908

Less: cumulative payments

(4,153,120)

(3,765,372)

Residual royalty agreement liability, excluding embedded derivative liability

8,363,628

6,531,536

Add: embedded derivative liability at fair value (see Note 3)

1,975,000

4,294,000

Total residual royalty agreement liability

10,338,628

10,825,536

Residual royalty agreement liability, short-term portion

(1,061,893)

(1,169,095)

Residual royalty agreement liability, long-term portion

$

9,276,735

$

9,656,441