Annual report pursuant to Section 13 and 15(d)

Debt and Interest (Tables)

v3.19.1
Debt and Interest (Tables)
 12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Schedule Of Interest Expenses
Total debt consists of the following as of December 31, 2018 and December 31, 2017:
 
 
 
December 31,
 
 
 
 
 
 
($ in thousands)
 
2018
 
 
2017
 
 
Interest rate
 
 
Maturity
IDB Note
 
$
14,929
 
 
$
14,929
 
 
 
2.25
%
 
Aug - 2020
2017 Subordinated Note Financing
 
 
3,254
 
 
 
3,254
 
 
 
8.00
%
 
March - 2020
2017 Subordinated Note Financing
 
 
13,893
 
 
 
13,893
 
 
 
8.00
%
 
May - 2020
2017 Subordinated Note Financing
 
 
1,820
 
 
 
1,820
 
 
 
8.00
%
 
June - 2020
2017 Subordinated Note Financing
 
 
3,018
 
 
 
3,018
 
 
 
8.00
%
 
August - 2020
2017 Subordinated Note Financing
 
 
6,371
 
 
 
6,371
 
 
 
8.00
%
 
September - 2020
2018 Venture Debt
 
 
6,517
 
 
 
–
  
 
 
8.00
%
 
February - 2021
2018 Venture Debt
 
 
15,190
 
 
 
–
  
 
 
8.00
%
 
March - 2021
Opus Credit  Facility
3
 
 
9,500
 
 
 
9,500
 
 
 
12.00
%
 
September - 2019
Helocyte Convertible Note, at fair
value
2
 
 
–
  
 
 
1,000
 
 
 
8.00
%
 
December 2017
Helocyte Convertible Note, at fair
value
2
 
 
–
  
 
 
2,194
 
 
 
8.00
%
 
September - 2018
Helocyte Convertible Note, at fair
value
2
 
 
–
  
 
 
1,062
 
 
 
8.00
%
 
April - 2018
Helocyte Convertible Note, at fair value
 
 
–
  
 
 
444
 
 
 
8.00
%
 
November - 2018
Caelum Convertible Note, at fair
value
1
 
 
1,000
 
 
 
1,017
 
 
 
8.00
%
 
January - 2019
Caelum Convertible Note, at fair
value
1
 
 
6,800
 
 
 
6,900
 
 
 
8.00
%
 
February - 2019
Caelum Convertible Note, at fair
value
1
 
 
2,114
 
 
 
2,142
 
 
 
8.00
%
 
March - 2019
Total notes payable
 
 
84,406
 
 
 
67,544
 
 
 
 
 
 
 
Less: Discount on notes payable
 
 
4,903
 
 
 
5,045
 
 
 
 
 
 
 
Total notes payable
 
$
79,503
 
 
$
62,499
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note 1:  – Classified as short-term on the Company’s Consolidated Balance Sheet as of December 31, 2018.
Note 2:  – Classified as short-term on the Company’s Consolidated Balance Sheet as of December 31, 2017.
Note 3:  – Classified as short-term on the Company’s Consolidated Balance Sheet as of December 31, 2018 and 2017.
Schedule Of Interest Expenses For Debt Arrangements
The following table shows the details of interest expense for all debt arrangements during the periods presented. Interest expense includes contractual interest and amortization of the debt discount and amortization of fees represents fees associated with loan transaction costs, amortized over the life of the loan:
 
   
For the Years Ended December 31,
  
($ in thousands)
  
2018
    
2017
  
   
Interest
    
Fees 
1
    
Total
    
Interest
    
Financing
    
Fees 
1
    
Total
  
IDB Note   $ 341     $ -     $ 341     $ 340     $ -     $ -     $ 340  
NSC Debt     -       -       -       147       -       201       348  
2017 Subordinated Note Financing     4,217       1,363       5,580       2,234       -       686       2,920  
Opus Credit Facility     1,141       636       1,777       1,085       -       1,037       2,122  
Venture Debt     1,364       420       1,784       -       -       -       -  
LOC Fees     30       -       30       36       -       -       36  
Helocyte Convertible Note     94       -       94       261       1       -       262  
Avenue Convertible Note     -       -       -       5       3       -       8  
Caelum Convertible Note     787       -       787       265       100       1,217       1,582  
Falk CSR     (64 )     -       (64 )     64       -       -       64  
Other     11       -       11       5       -       -       5  
Total Interest Expense and Financing Fee   $ 7,921     $ 2,419     $ 10,340     $ 4,442     $ 104     $ 3,141     $ 7,687  
 
 
 
 
 
 
 
 
Note 1: Amortization of fees