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Notes Payable | 9 Months Ended
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Mar. 31, 2020
Debt Disclosure [Abstract] |
Notes Payable | The Aytu BioScience Note. On February 27, 2020, the Company issued a $0.8 million promissory note (the “Note”) and received consideration of $0.6 million. The Note had an eight-month term with principal and interest payable at maturity and the recognition of approximately $0.2 million of debt discount related to the issuance of promissory notes. The discount is amortized over the life of the promissory notes through the fourth quarter of calendar 2020.During the three months ended March 31, 2020, and March 31, 2019, the Company recorded approximately $34,000 and $0, respectively, of related amortization. The Innovus Notes. Upon completion of the Merger, the Company assumed approximately $3.1 million of the twelve Innovus Notes (see Note 1, 2 and 10). During the three months ended March 31, 2020, and March 31, 2019, the Company recorded approximately $0.2 million and $0, respectively, of related amortization. All notes are due within twelve months from March 31, 2020, with a weighted average interest rate of approximately 42% for the ten unsecured notes and approximately 15% for the two secured notes. On April 27, 2020, approximately $1.8 million of outstanding notes were exchanged for approximately 1.5 million shares of the Company’s common stock, leaving a remaining obligation of approximately $2.1 million after the exchange, with a remaining carrying value of approximately $1.4 million.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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