| Schedule of debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30,
|
|
December
|
|
|
|
|
|
($ in thousands)
|
|
2019
|
|
31, 2018
|
|
Interest rate
|
|
Maturity
|
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
IDB Note
|
|
$
|
14,929
|
|
$
|
14,929
|
|
2.25
|
%
|
Aug - 2020
|
|
2017 Subordinated Note Financing
|
|
|
3,254
|
|
|
3,254
|
|
8.00
|
%
|
March - 2020(3)
|
|
2017 Subordinated Note Financing
|
|
|
13,893
|
|
|
13,893
|
|
8.00
|
%
|
May - 2020(3)
|
|
2017 Subordinated Note Financing
|
|
|
1,820
|
|
|
1,820
|
|
8.00
|
%
|
June - 2020(3)
|
|
2017 Subordinated Note Financing
|
|
|
3,018
|
|
|
3,018
|
|
8.00
|
%
|
August - 2020(3)
|
|
2017 Subordinated Note Financing
|
|
|
6,371
|
|
|
6,371
|
|
8.00
|
%
|
September - 2020(3)
|
|
2018 Venture Notes
|
|
|
6,517
|
|
|
6,517
|
|
8.00
|
%
|
February - 2021(3)
|
|
2018 Venture Notes
|
|
|
15,190
|
|
|
15,190
|
|
8.00
|
%
|
March - 2021(3)
|
|
Opus Credit Facility(1)
|
|
|
9,500
|
|
|
9,500
|
|
12.00
|
%
|
September - 2019(3)
|
|
Mustang Horizon Notes(2)
|
|
|
15,750
|
|
|
—
|
|
9.00
|
%
|
October - 2022
|
|
Caelum Convertible Note, at fair value
|
|
|
—
|
|
|
1,000
|
|
8.00
|
%
|
January - 2019
|
|
Caelum Convertible Note, at fair value
|
|
|
—
|
|
|
6,800
|
|
8.00
|
%
|
February - 2019
|
|
Caelum Convertible Note, at fair value
|
|
|
—
|
|
|
2,114
|
|
8.00
|
%
|
March - 2019
|
|
Total notes payable
|
|
|
90,242
|
|
|
84,406
|
|
|
|
|
|
Less: Discount on notes payable
|
|
|
6,539
|
|
|
4,903
|
|
|
|
|
|
Total notes payable
|
|
$
|
83,703
|
|
$
|
79,503
|
|
|
|
|
Note 1: Classified as short-term on the Company’s Consolidated Balance Sheet as of December 31, 2018.
Note 2: Interest rate is 9.0% plus one-month LIBOR Rate in excess of 2.5%.
Note 3: Maturity date extended (see Note 21)
|
| Schedule of interest expense for all debt arrangements |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30,
|
|
|
|
2019
|
|
2018
|
|
($ in thousands)
|
|
Interest
|
|
Fees(1)
|
|
Total
|
|
Interest
|
|
Fees (1)
|
|
Total
|
|
IDB Note
|
|
$
|
85
|
|
$
|
—
|
|
$
|
85
|
|
$
|
85
|
|
$
|
—
|
|
$
|
85
|
|
2017 Subordinated Note Financing
|
|
|
1,048
|
|
|
392
|
|
|
1,440
|
|
|
1,049
|
|
|
357
|
|
|
1,406
|
|
Opus Credit Facility
|
|
|
284
|
|
|
119
|
|
|
403
|
|
|
284
|
|
|
101
|
|
|
385
|
|
2018 Venture Notes
|
|
|
432
|
|
|
156
|
|
|
588
|
|
|
429
|
|
|
128
|
|
|
557
|
|
LOC Fees
|
|
|
16
|
|
|
—
|
|
|
16
|
|
|
9
|
|
|
—
|
|
|
9
|
|
Helocyte Convertible Note
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
19
|
|
|
—
|
|
|
19
|
|
Caelum Convertible Note
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
195
|
|
|
—
|
|
|
195
|
|
Mustang Horizon Notes
|
|
|
342
|
|
|
232
|
|
|
574
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Other
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(66)
|
|
|
—
|
|
|
(66)
|
|
Total Interest Expense and Financing Fee
|
|
$
|
2,207
|
|
$
|
899
|
|
$
|
3,106
|
|
$
|
2,004
|
|
$
|
586
|
|
$
|
2,590
|
Note 1: Amortization of fees
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30,
|
|
|
|
2019
|
|
2018
|
|
($ in thousands)
|
|
Interest
|
|
Fees(1)
|
|
Total
|
|
Interest
|
|
Fees(1)
|
|
Total
|
|
IDB Note
|
|
$
|
168
|
|
$
|
—
|
|
$
|
168
|
|
$
|
169
|
|
$
|
—
|
|
$
|
169
|
|
2017 Subordinated Note Financing
|
|
|
2,076
|
|
|
755
|
|
|
2,831
|
|
|
2,097
|
|
|
682
|
|
|
2,779
|
|
Opus Credit Facility
|
|
|
565
|
|
|
232
|
|
|
797
|
|
|
565
|
|
|
420
|
|
|
985
|
|
2018 Venture Notes
|
|
|
861
|
|
|
302
|
|
|
1,163
|
|
|
485
|
|
|
145
|
|
|
630
|
|
LOC Fees
|
|
|
31
|
|
|
—
|
|
|
31
|
|
|
16
|
|
|
—
|
|
|
16
|
|
Helocyte Convertible Note
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
87
|
|
|
—
|
|
|
87
|
|
Caelum Convertible Note
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
391
|
|
|
—
|
|
|
391
|
|
Mustang Horizon Notes
|
|
|
353
|
|
|
232
|
|
|
585
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Other
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(64)
|
|
|
—
|
|
|
(64)
|
|
Total Interest Expense and Financing Fee
|
|
$
|
4,054
|
|
$
|
1,521
|
|
$
|
5,575
|
|
$
|
3,746
|
|
$
|
1,247
|
|
$
|
4,993
|
Note 1: Amortization of fees
|