Quarterly report pursuant to Section 13 or 15(d)

INTEREST EXPENSE AND FINANCING FEES

v3.21.2
INTEREST EXPENSE AND FINANCING FEES
9 Months Ended
Sep. 30, 2021
INTEREST EXPENSE AND FINANCING FEES  
INTEREST EXPENSE AND FINANCING FEES

NOTE 13. INTEREST EXPENSE AND FINANCING FEES

Interest expense and financing fees for the periods consisted of the following:

    

Three Months Ended September 30, 

2021

2020

($in thousands)

    

Interest

    

Fees1

    

Total

    

Interest

    

Fees1

    

Total

Convertible preferred shares

$

450

$

378

$

828

$

$

$

Dividend payable

 

365

 

 

365

 

 

 

Installment payments - licenses 2

 

170

 

 

170

 

187

 

 

187

Anti-itch product Note

 

10

 

 

10

 

 

 

Total Interest Expense and Financing Fee

$

995

$

378

$

1,373

$

187

$

$

187

    

Nine Months Ended September 30, 

2021

2020

($in thousands)

    

Interest

    

Fees1

    

Total

    

Interest

    

Fees1

    

Total

Convertible preferred shares

$

1,034

$

648

$

1,682

$

$

$

Dividend payable

 

628

 

 

628

 

 

 

Installment payments - licenses 2

 

616

 

 

616

 

492

 

 

492

Anti-itch product Note

 

10

 

 

10

 

 

 

Total Interest Expense and Financing Fee

$

2,288

$

648

$

2,936

$

492

$

$

492

Note 1:Amortization of fees in connection with debt raises.

Note 2: Imputed interest expense related to Ximino, Accutane and anti-itch cream acquisitions.

The conversion premium relates to the 15% discount at which the Class A Preferred Stock converts, see Note 15. In accordance with the measurement and recognition guidance of ASC 835-30 Imputation of Interest, the Company will accrete the convertible preferred share settled notes to the estimated settlement amount of $14.7 million.