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Long-term Debt (Tables) | 12 Months Ended
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Dec. 31, 2019
Debt Disclosure [Abstract] |
Components of the 12% Amended Senior Secured Notes and Carrying Values | The following table represents the components of the 12% Amended Senior Secured Notes recognized during the year ended December 31, 2019 and carrying value as of December 31, 2019:
|  | 12% Amended Senior Secured Notes |
Principal amount of debt: |  |  |  |
Principal amount of debt received on June 10, 2019 |  | $ | 20,000,000 |
Principal amount of debt received on June 14, 2019 |  |  | 48,000,000 |
Principal amount of debt received on August 27, 2019 |  |  | 3,000,000 |
Subtotal principal amount of debt |  |  | 71,000,000 |
Add accrued interest |  |  | 1,082,642 |
Less principal payment paid in Series J Preferred Stock (net of interest of $146,067) |  |  | (4,853,933 | )
Less principal payments paid in cash |  |  | (17,307,364 | )
Principal amount of debt outstanding including accrued interest |  |  | 49,921,345 |
Debt discount: |  |  |  |
Placement fee to B. Riley FBR |  |  | (3,550,000 | )
Success based fee to B. Riley FBR |  |  | (3,400,000 | )
Legal and other costs |  |  | (202,382 | )
Subtotal debt discount |  |  | (7,152,382 | )
Less amortization of debt discount |  |  | 1,240,782 |
Unamortized debt discount |  |  | (5,911,600 | )
Carrying value at December 31, 2019 |  | $ | 44,009,745 |
Summary of Interest Expense | The following table summarizes the interest expense for the year ended December 31, 2019:
|  | 12% Convertible Debentures |  |  | 12% Amended Senior Secured Notes |  |  | Officer Promissory Notes |  |  | Total Interest Expense |
Amortization of debt discount |  | $ | 3,304,893 |  |  | $ | 1,240,782 |  |  | $ | - |  |  | $ | 4,545,675 |
Accrued interest |  |  | 1,831,130 |  |  |  | 1,228,709 |  |  |  | 5,794 |  |  |  | 3,065,633 |
Cash paid interest |  |  |  |  |  |  | 2,351,404 |  |  |  | 983 |  |  |  | 2,352,887 |
Totals |  | $ | 5,136,023 |  |  | $ | 4,821,395 |  |  | $ | 6,777 |  |  |  | 9,964,195 |
Cash paid for other interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 499,375 |
Total interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 10,463,570 |
The following table summarizes the interest expense for the year ended December 31, 2018:
|  | 8% Promissory Notes |  |  | 10% Convertible Debentures |  |  | 10% OID Convertible Debentures |  |  | 12% Convertible Debentures |  |  | Total Interest Expense |
Accretion of original issue discount |  | $ | 44,133 |  |  | $ | - |  |  | $ | 25,463 |  |  | $ | - |  |  | $ | 69,596 |
Amortization of debt discount |  |  | 315,309 |  |  |  | 64,452 |  |  |  | 68,637 |  |  |  | 153,442 |  |  |  | 601,840 |
Loss on extinguishment of debt |  |  | 292,201 |  |  |  | 885,080 |  |  |  | 173,056 |  |  |  | - |  |  |  | 1,350,337 |
Gain on extinguishment of embedded derivative liabilities upon extinguishment of host instrument |  |  | (29,860 | ) |  |  | (1,042,000 | ) |  |  | (25,000 | ) |  |  | - |  |  |  | (1,096,860 | )
Write off unamortized debt discount upon extinguishment of debt |  |  | 460,278 |  |  |  | 406,550 |  |  |  | 403,088 |  |  |  | - |  |  |  | 1,269,916 |
Accrued interest |  |  | - |  |  |  | 69,920 |  |  |  | 28,009 |  |  |  | 82,913 |  |  |  | 180,842 |
Other interest |  |  | 20,986 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 20,986 |
Totals |  | $ | 1,103,047 |  |  | $ | 384,002 |  |  | $ | 673,253 |  |  | $ | 236,355 |  |  |  | 2,396,657 |
Accrued interest on Officer Promissory Notes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 12,574 |
Other interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 99,643 |
Total interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 2,508,874 |

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