| Schedule of Assumptions used in Fair Value of Warrants |
The assumptions used in the calculation
of the fair value of the warrants issued on July 28, 2017, were as follows:
| Weighted-average risk-free interest rate |
|
|
1.8 |
% |
| Weighted-average expected life (in years) |
|
|
4.8 |
|
| Expected dividend yield |
|
|
- |
% |
| Weighted-average expected volatility |
|
|
122.0 |
% |
|
|
| Schedule of Outstanding Long-Term Debt |
Long-term debt consisted of the following
(in thousands):
| |
|
September 30, 2017 |
|
|
December 31, 2016 |
|
| |
|
Outstanding Principal |
|
|
Unamortized Discount and
Debt
Issuance Costs
|
|
|
Net
Carrying Amount
|
|
|
Outstanding Principal |
|
|
Unamortized Discount and
Debt
Issuance Costs
|
|
|
Net
Carrying Amount
|
|
| Hercules Term Loan |
|
$ |
2,377 |
|
|
$ |
(58 |
) |
|
$ |
2,319 |
|
|
$ |
7,421 |
|
|
$ |
(409 |
) |
|
$ |
7,012 |
|
| North Stadium Term Loan |
|
|
2,500 |
|
|
|
(205 |
) |
|
|
2,295 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Less: Current portion |
|
|
(4,877 |
) |
|
|
263 |
|
|
|
(4,614 |
) |
|
|
(7,421 |
) |
|
|
409 |
|
|
|
(7,012 |
) |
| Long-term debt |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
Outstanding long-term debt consisted of the following (in
thousands):
| |
|
December 31, 2016 |
|
|
December 31, 2015 |
|
| |
|
|
|
|
Unamortized |
|
|
|
|
|
|
|
|
Unamortized |
|
|
|
|
| |
|
Outstanding |
|
|
Discount and Debt
Issuance
|
|
|
Net Carrying |
|
|
Outstanding |
|
|
Discount and Debt
Issuance
|
|
|
Net Carrying |
|
| |
|
Principle |
|
|
Costs |
|
|
Amount |
|
|
Principle |
|
|
Costs |
|
|
Amount |
|
| Hercules Term Loan |
|
$ |
7,421 |
|
|
$ |
(409 |
) |
|
$ |
7,012 |
|
|
$ |
17,051 |
|
|
$ |
(1,420 |
) |
|
$ |
15,631 |
|
| Magna Note |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
763 |
|
|
|
(29 |
) |
|
|
734 |
|
| Total debt |
|
|
7,421 |
|
|
|
(409 |
) |
|
|
7,012 |
|
|
|
17,814 |
|
|
|
(1,449 |
) |
|
|
16,365 |
|
| Less: Current portion |
|
|
(7,421 |
) |
|
|
409 |
|
|
|
(7,012 |
) |
|
|
(17,814 |
) |
|
|
1,449 |
|
|
|
(16,365 |
) |
| Long-term debt |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
| Schedule of Future Principal Payments on Debt |
|
The following summarizes, by year, the
future contractual principle payment obligations on the Hercules term loan as of December 31, 2016, before considering acceleration
of maturity payments due to non-compliance with loan covenants (in thousands):
| |
|
Hercules Term |
|
| Years Ending December 31, |
|
Loan |
|
| 2017 |
|
$ |
6,779 |
|
| 2018 |
|
|
642 |
|
| Total future principle payments |
|
$ |
7,421 |
|
|