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Convertible Debt (Tables) | 6 Months Ended
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Jun. 30, 2020
Debt Disclosure [Abstract] |
Schedule of Convertible Debt | The balance of the December 2019 Bonds at June 30, 2020 was as follows:
Principal amount | $ | 3,915,035 |
Unamortized debt issuance cost | (40,681 | )
Accretion of premium associated with the December 2019 Bonds | 95,638 |
Accrued interest | 9,788 |
Net carrying amount | $ | 3,979,780 |
The balance of the Notes at June 30, 2020 is as follows:
Principal amount | $ | 78,500,000 |
Unamortized debt discount on the liability component | (12,619,675 | )
Unamortized debt issuance cost | (1,736,898 | )
Accrued interest | 1,700,833 |
Net carrying amount | $ | 65,844,260 |
The balance of the August 2019 Bonds at June 30, 2020 was as follows:
Principal amount | $ | 14,993,753 |
Unamortized debt discount | (5,600,302 | )
Unamortized debt issuance cost | (211,272 | )
Accretion of premium associated with the August 2019 Bonds | 519,085 |
Accrued interest | 37,484 |
Net carrying amount | $ | 9,738,748 |
Schedule of Maturities of Long-term Debt | As of June 30, 2020, future minimum payments due under the Company's convertible debt instruments are as follows:
|  | Convertible Notes (1) |  | August 2019 Bonds (2) |  | December 2019 Bonds (2) |  | Total
Remainder of 2020 |  | $ | 2,551,000 |  |  | $ | 75,000 |  |  | $ | 20,000 |  |  | $ | 2,646,000 |
2021 |  | 5,103,000 |  |  | 150,000 |  |  | 39,000 |  |  | 5,292,000 |
2022 |  | 5,103,000 |  |  | 150,000 |  |  | 39,000 |  |  | 5,292,000 |
2023 |  | 5,103,000 |  |  | 150,000 |  |  | 39,000 |  |  | 5,292,000 |
2024 |  | 81,051,000 |  |  | 19,270,000 |  |  | 5,040,000 |  |  | 105,361,000 |
Total |  | $ | 98,911,000 |  |  | $ | 19,795,000 |  |  | $ | 5,177,000 |  |  | $ | 123,883,000 |
(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.

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- Definition Tabular disclosure of borrowings which can be exchanged for a specified number of another security at the option of the issuer or the holder. Disclosures include, but are not limited to, principal amount, amortized premium or discount, and amount of liability and equity components. + References No definition available. + Details
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- References No definition available. + Details
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- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
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