Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.8.0.1
Debt (Tables)
 6 Months Ended
Mar. 31, 2018
Debt [Abstract]  
Credit Agreement



 

 



March 31, 2018



 

 

Aggregate repayment obligation

$

 17,500,000 

Less: Unamortized discounts

 

 (10,840,046)

Less: Unamortized deferred issuance costs

 

 (258,373)

Credit agreement, net

 

 6,401,581 

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

 

 3,334,000 



 

 9,735,581 

Credit agreement, short-term portion

 

 (3,912,888)

Credit agreement, long-term portion

$

 5,822,693 



 

 



Residual Royalty Agreement Liability



 

 



March 31, 2018



 

 

Residual Royalty Agreement liability, fair value at inception

$

 346,000 

Less: Unamortized discounts

 

 (7,208)

Add: Accretion of liability using effective interest rate

 

 27,278 

Residual Royalty Agreement liability, net

 

 366,070 

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

 

 6,000 

Residual Royalty Agreement liability

$

 372,070 



 

 



Credit Agreement Interest Expense



 

 



March 31, 2018



 

 

Amortization of Credit Agreement and Residual Royalty Agreement discounts

$

 317,747 

Accretion of Residual Royalty Agreement liability

 

 27,278 

Amortization of deferred issuance costs

 

 5,570 



$

 350,595