| SCHEDULE OF DEBENTURE TRANSACTION |
In
a series of transactions from the period October 2018 through February 2020, the Company sold an aggregate of $21.0 million of
convertible debentures (the “$21M Debentures”) to an accredited investor pursuant to an amended securities purchase
agreement (the “SPA”). The following table summarizes the purchase dates and selected terms of each debenture transaction
that comprises the $21M Debentures:
SCHEDULE OF DEBENTURE TRANSACTION
Issue
Date |
|
Maturity
Date |
|
Initial
Principal |
|
|
Interest
Rate |
|
|
Issue
Discount |
|
|
Warrant
Discount |
|
|
Ben.
Conv.
Feature |
|
|
Converted
To
Common Stk. |
|
|
Outstanding
Principal |
|
| 10/17/18 |
|
10/16/20 |
|
$ |
5,000,000 |
|
|
6.0% |
|
|
1.0% |
|
|
$ |
457,966 |
|
|
$ |
1,554,389 |
|
|
$ |
5,000,000 |
|
|
$ |
- |
|
| 11/07/18 |
|
11/06/20 |
|
|
5,000,000 |
|
|
6.0% |
|
|
1.0% |
|
|
|
599,867 |
|
|
|
4,015,515 |
|
|
|
5,000,000 |
|
|
|
- |
|
| 05/08/19 |
|
05/07/21 |
|
|
5,000,000 |
|
|
6.0% |
|
|
1.0% |
|
|
|
783,701 |
|
|
|
2,537,235 |
|
|
|
1,200,000 |
|
|
|
3,800,000 |
|
| 06/28/19 |
|
06/27/21 |
|
|
2,500,000 |
|
|
0.0% |
|
|
7.0% |
|
|
|
145,022 |
|
|
|
847,745 |
|
|
|
1,000,000 |
|
|
|
1,500,000 |
|
| 08/20/19 |
|
08/19/21 |
|
|
2,500,000 |
|
|
0.0% |
|
|
7.0% |
|
|
|
219,333 |
|
|
|
850,489 |
|
|
|
2,500,000 |
|
|
|
- |
|
| 02/21/20 |
|
02/20/21 |
|
|
1,000,000 |
|
|
6.5% |
|
|
6.5% |
|
|
|
28,021 |
|
|
|
379,183 |
|
|
|
- |
|
|
|
1,000,000 |
|
|