Schedule of Series D Convertible Preferred and Warrant Financing |
Based upon the above accounting conclusions
and the additional information provided below, the allocation of the proceeds arising from the Series D Preferred financing transaction
is summarized in the table below:
November 21, 2019 Series D Convertible Preferred and warrant financing: |
|
Proceeds Allocation |
|
|
Financing Cost Allocation |
|
|
Total Allocation |
|
Gross proceeds |
|
$ |
6,000,000 |
|
|
$ |
— |
|
|
$ |
6,000,000 |
|
Financing costs paid in cash |
|
|
— |
|
|
|
(111,983 |
) |
|
|
(111,983 |
) |
|
|
$ |
6,000,000 |
|
|
$ |
(111,983 |
) |
|
$ |
5,888,017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Derivative Liability: |
|
|
|
|
|
|
|
|
|
|
|
|
Derivative Put Liability |
|
$ |
(614,095 |
) |
|
$ |
— |
|
|
$ |
(614,095 |
) |
Deferred Financing costs |
|
|
— |
|
|
|
8,100 |
|
|
|
8,100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Redeemable preferred stock: |
|
|
|
|
|
|
|
|
|
|
|
|
Series D Convertible Preferred Stock |
|
|
(2,869,854 |
) |
|
|
— |
|
|
|
(2,869,854 |
) |
Financing costs (APIC) |
|
|
— |
|
|
|
1,106 |
|
|
|
1,106 |
|
Financing costs (Retained Earnings) |
|
|
— |
|
|
|
66,265 |
|
|
|
66,265 |
|
Beneficial Conversion Feature |
|
|
(623,045 |
) |
|
|
— |
|
|
|
(623,045 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Investor Warrants (equity classified): |
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds allocation |
|
|
(1,893,006 |
) |
|
|
— |
|
|
|
(1,893,006 |
) |
Financing costs (APIC) |
|
|
— |
|
|
|
36,512 |
|
|
|
36,512 |
|
|
|
$ |
(6,000,000 |
) |
|
$ |
111,983 |
|
|
$ |
(5,888,017 |
) |
January 17, 2020 Series D Convertible Preferred and warrant financing: |
|
Proceeds Allocation |
|
Gross proceeds |
|
$ |
100,000 |
|
Financing costs paid in cash |
|
|
— |
|
|
|
$ |
100,000 |
|
|
|
|
|
|
Derivative Liability: |
|
|
|
|
Derivative Put Liability |
|
$ |
(5,306 |
) |
|
|
|
|
|
Redeemable preferred stock: |
|
|
|
|
Series D Convertible Preferred Stock |
|
|
(62,792 |
) |
|
|
|
|
|
Investor Warrants (equity classified): |
|
|
|
|
Proceeds allocation |
|
|
(31,902 |
) |
|
|
|
|
|
|
|
$ |
(100,000 |
) |
|