Annual report pursuant to Section 13 and 15(d)

NOTES PAYABLE (Tables)

v3.20.4
NOTES PAYABLE (Tables)
12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
SCHEDULE OF NOTES PAYABLE

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

 

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

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

 

    December 31, 2020  
   

Principal Payments

and final payment

on Loan Agreement

 
       
2021   $ -  
2022     3,093,344  
2023     9,835,341  
2024     8,261,315  
Total   $ 21,190,000