| Schedule of senior secured convertible notes payable |
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August 31, 2020
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August 31, 2019
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Senior Convertible Notes, Principal
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$
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—
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$
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6,808,000
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Less: debt discount and deferred financing costs
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—
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(3,457,000)
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Total outstanding convertible notes, net
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$
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—
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$
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3,351,000
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Less: current portion of convertible notes payable
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—
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(3,351,000)
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Long-term convertible notes payable
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$
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—
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$
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—
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| Schedule of rolls forward the convertible notes payable balances |
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Deferred
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Gross
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Financing
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Note
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Principal
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Costs
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Discount
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Net
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Balance at August 31, 2019
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$
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6,808,000
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$
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(344,000)
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$
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(3,113,000)
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$
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3,351,000
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Repayments in cash
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(1,240,000)
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—
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—
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(1,240,000)
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Conversions to common stock
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(6,060,000)
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89,000
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3,402,000
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(2,569,000)
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Notes issued – December 2019 exchange
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267,000
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—
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—
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267,000
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Additional note discount issued – December 2019 exchange
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—
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—
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(467,000)
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(467,000)
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Acceleration of discount and deferred financing cost – extinguishment
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—
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88,000
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960,000
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1,048,000
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Additional notes issued – March 2020 exchange
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166,000
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—
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—
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166,000
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Interest capitalized – March 2020 exchange
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59,000
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—
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—
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59,000
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Additional note discount issued – March 2020 exchange
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—
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—
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(2,825,000)
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(2,825,000)
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Amortization of interest expense
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—
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167,000
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2,043,000
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2,210,000
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Balance at August 31, 2020
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$
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—
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$
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—
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$
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—
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$
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—
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