Quarterly report pursuant to Section 13 or 15(d)

Financing Arrangements (Tables)

v3.20.2
Financing Arrangements (Tables)
6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Schedule of Debt and Financing Obligations

The composition of the Company’s debt and financing obligations was as follows:

 

   

June 30,

2020

    December 31, 2019  
2019 $500,000 Founder Bridge Note   $ 500,000     $ 500,000  
2019 Vendor Payable Conversion Note     137,729       137,729  
2019 $1,000,000 Convertible Bridge Notes     -       1,000,000  
2020 Paycheck Protection Program Term Note     218,000       -  
Note payable – auto financing     25,153       28,555  
      880,882       1,666,284  
Less: debt discount     (280,359 )     (341,310 )
      600,523       1,324,974  
Less: current portion     (364,610 )     (1,006,947 )
Long-term debt   $ 235,913     $ 318,027