Quarterly report pursuant to Section 13 or 15(d)

NOTES PAYABLE (Tables)

v3.21.1
NOTES PAYABLE (Tables)
3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]  
SCHEDULE OF NOTES PAYABLE

The net carrying amounts of the liability components consists of the following:

    March 31, 2021     December 31, 2020  
             
Principal   $ 20,000,000     $  20,000,000  
Less: debt discount     (2,262,388 )     (2,262,388 )
Accretion of Debt Discount     461,677       291,393  
Net Carrying amount   $ 18,199,289     $ 18,029,005  
SCHEDULE OF PRINCIPAL MATURITIES ON LONG TERM DEBT

The following table summarizes the future principal payments due under long-term debt;

   

Principal Payments and
final payment
on Loan Agreement

 
       
Remaining 2021  

$

-  
2022     3,093,344  
2023     9,835,341  
2024     8,261,315  
Total   $ 21,190,000