Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.10.0.1
Debt (Tables)
3 Months Ended
Dec. 31, 2018
Debt [Abstract]  
Credit Agreement



 

 

 

 

 



December 31,
2018

 

September 30,
2018



 

 

 

 

 

Aggregate repayment obligation

$

17,500,000 

 

$

17,500,000 

Less: Payments

 

(3,201,762)

 

 

(642,485)

Less: Unamortized discounts

 

(7,320,088)

 

 

(8,475,874)

Less: Unamortized deferred issuance costs

 

(176,487)

 

 

(204,353)

Credit agreement, net

 

6,801,663 

 

 

8,177,288 

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

 

1,138,000 

 

 

1,217,000 



 

7,939,663 

 

 

9,394,288 

Credit agreement, short-term portion

 

(4,943,543)

 

 

(6,692,718)

Credit agreement, long-term portion

$

2,996,120 

 

$

2,701,570 



 

 

 

 

 



Residual Royalty Agreement Liability



 

 

 

 

 



December 31,
2018

 

September 30,
2018



 

 

 

 

 

Residual Royalty Agreement liability, fair value at inception

$

346,000 

 

$

346,000 

Less: Unamortized discounts

 

 —

 

 

(2,420)

Add: Accretion of liability using effective interest rate

 

293,576 

 

 

201,225 

Residual Royalty Agreement liability, net

 

639,576 

 

 

544,805 

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

 

1,063,000 

 

 

1,209,000 

Residual Royalty Agreement liability

$

1,702,576 

 

$

1,753,805 



 

 

 

 

 



Credit Agreement Interest Expense



 

 



Three Months Ended
December 31, 2018



 

 

Amortization of Credit Agreement and Residual Royalty Agreement discounts

$

1,158,206 

Accretion of Residual Royalty Agreement liability

 

92,351 

Amortization of deferred issuance costs

 

27,866 



$

1,278,423