Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.10.0.1
Debt (Tables)
 9 Months Ended
Jun. 30, 2018
Debt [Abstract]  
Credit Agreement



 

 



June 30, 2018



 

 

Aggregate repayment obligation

$

 17,500,000 

Less: Payments

 

 (642,485)

Less: Unamortized discounts

 

 (9,587,369)

Less: Unamortized deferred issuance costs

 

 (231,151)

Credit agreement, net

 

 7,038,995 

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

 

 3,664,000 



 

 10,702,995 

Credit agreement, short-term portion

 

 (6,428,567)

Credit agreement, long-term portion

$

 4,274,428 



 

 



Residual Royalty Agreement Liability



 

 



June 30, 2018



 

 

Residual Royalty Agreement liability, fair value at inception

$

 346,000 

Less: Unamortized discounts

 

 (4,822)

Add: Accretion of liability using effective interest rate

 

 122,136 

Residual Royalty Agreement liability, net

 

 463,314 

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

 

 54,000 

Residual Royalty Agreement liability

$

 517,314 



 

 



Credit Agreement Interest Expense



 

 

 

 

 



Three Months Ended
June 30, 2018

 

Nine Months Ended
June 30, 2018

Amortization of Credit Agreement and Residual Royalty Agreement discounts

$

 1,255,062 

 

$

 1,572,809 

Accretion of Residual Royalty Agreement liability

 

 94,858 

 

 

 122,136 

Amortization of deferred issuance costs

 

 30,202 

 

 

 35,772 



$

 1,380,122 

 

$

 1,730,717