Quarterly report pursuant to Section 13 or 15(d)

NOTES PAYABLE (Tables)

v3.21.2
NOTES PAYABLE (Tables)
6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]  
SCHEDULE OF NOTES PAYABLE

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

 SCHEDULE OF NOTES PAYABLE

    June 30, 2021     December 31, 2020  
             
Principal   $ 20,000,000     $ 20,000,000  
Less: debt discount     (2,262,388 )     (2,262,388 )
Accretion of Debt Discount     635,487       291,393  
Net Carrying amount   $ 18,373,099     $ 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