Convertible Debt (Tables)

12 Months Ended

Dec. 31, 2019

The balance of the Notes at December 31, 2019 is as follows:



Principal amount	$	78,500,000
Unamortized debt discount on the liability component	(14,082,302		)
Unamortized debt issuance cost	(1,938,206		)
Accrued interest	1,700,833
Net carrying amount	$	64,180,325

The balance of the August 2019 Bonds at December 31, 2019 is as follows:



Principal amount	$	15,578,211
Unamortized debt discount	(6,764,346		)
Unamortized debt issuance cost	(255,185		)
Accretion of premium associated with the August 2019 Bonds	227,322
Accrued interest	38,946
Net carrying amount	$	8,824,948

The balance of the December 2019 Bonds at December 31, 2019 is as follows:



Principal amount	$	4,067,644
Unamortized debt issuance cost	(50,000		)
Accretion of premium associated with the December 2019 Bonds	—
Accrued interest	—
Net carrying amount	$	4,017,644

Schedule of Maturities of Long-term Debt

As of December 31, 2019, future minimum payments due under the Company's convertible debt instruments are as follows:



Year ending December 31,	Convertible Notes (1)		August 2019 Bonds (2)		December 2019 Bonds (2)		Total
2020	$	5,103,000	$	156,000	$	31,000	$	5,290,000
2021	5,103,000		156,000		41,000		5,300,000
2022	5,103,000		156,000		41,000		5,300,000
2023	5,103,000		156,000		41,000		5,300,000
2024	81,051,000		20,021,000		5,236,000		106,308,000
Total	$	101,463,000	$	20,645,000	$	5,390,000	$	127,498,000

(1) Amounts represent contractual amounts due under the Notes, including interest based on the fixed rate of 6.5% per year.

(2) Amounts represent contractual amounts due under the August 2019 and December 2019 Bonds, including interest based on the fixed rate of 1% per year plus a premium on such bonds to provide an internal rate of return with respect to such Bonds of 6% at maturity.