Senior Secured Convertible Notes Payable (in default) (Tables)
|
3 Months Ended |
Nov. 30, 2019 |
|---|
| Senior Secured Convertible Notes Payable (in default) (Tables) |
|
| Schedule of senior secured convertible notes payable |
|
|
November 30, |
|
|
August 31, |
|
|
|
2019 |
|
|
2019 |
|
|
|
(unaudited) |
|
|
|
|
Senior Secured Convertible notes, Principal |
|
$ |
6,808,000 |
|
|
$ |
6,808,000 |
|
Less debt discount and deferred financing costs |
|
|
(2,604,000 |
) |
|
|
(3,457,000 |
) |
Total outstanding convertible notes, net |
|
$ |
4,204,000 |
|
|
$ |
3,351,000 |
|
Less current portion of convertible notes payable |
|
|
(3,426,000 |
) |
|
|
(3,351,000 |
) |
Long-term convertible notes payable |
|
$ |
778,000 |
|
|
$ |
- |
|
|
| Schedule of rolls forward the Convertible Notes Payable balances |
|
|
Gross
Principal
|
|
|
Deferred
Financing
Costs
|
|
|
Note
Discount
|
|
|
Net |
|
Balance at August 31, 2019 |
|
$ |
6,808,000 |
|
|
|
(344,000 |
) |
|
|
(3,113,000 |
) |
|
$ |
3,351,000 |
|
Amortization of Interest Expense |
|
|
- |
|
|
|
80,000 |
|
|
|
773,000 |
|
|
|
853,000 |
|
Balance at November 30, 2019 |
|
$ |
6,808,000 |
|
|
|
(264,000 |
) |
|
|
(2,340,000 |
) |
|
$ |
4,204,000 |
|
Less Current Amount |
|
|
(5,141,000 |
) |
|
|
174,000 |
|
|
|
1,541,000 |
|
|
|
(3,426,000 |
) |
Long Term Balance at November 30, 2019 |
|
|
1,667,000 |
|
|
|
(90,000) |
|
|
|
(799,000) |
|
|
$ |
778,000 |
|
|
| Gross principal balance rollforward |
|
|
June 2018
Notes
|
|
|
December 2018 Notes |
|
|
March 2019
Notes
|
|
|
Total |
|
Gross Balance at August 31, 2019 |
|
$ |
1,466,000 |
|
|
|
867,000 |
|
|
|
4,475,000 |
|
|
$ |
6,808,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less Discount and Debt Issuance Costs: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt Issuance Costs |
|
|
- |
|
|
|
- |
|
|
|
(264,000 |
) |
|
|
(264,000 |
) |
Deferred Financing Costs |
|
|
- |
|
|
|
- |
|
|
|
(2,340,000 |
) |
|
|
(2,340,000 |
) |
Carrying Balance at November 30, 2019 |
|
$ |
1,466,000 |
|
|
|
867,000 |
|
|
|
1,871,000 |
|
|
$ |
4,204,000 |
|
Less Current Amount |
|
|
(1,466,000 |
) |
|
|
(728,000 |
) |
|
|
(1,232,000 |
) |
|
|
(3,426,000 |
) |
Long Term Balance at November 30, 2019 |
|
$ |
- |
|
|
|
139,000 |
|
|
|
639,000 |
|
|
$ |
778,000 |
|
|