Quarterly report pursuant to Section 13 or 15(d)

Debt Obligations

v3.20.2
Debt Obligations
 6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Debt Obligations

8. DEBT OBLIGATIONS

 

The Company’s debt obligations are summarized below:

 

    June 30, 2020     December 31, 2019  
    Principal     Interest [1]     Total     Principal     Interest [1]     Total  
                                     
2010 Debt Obligations   $ -     $ 317,715     $ 317,715     $ -     $ 305,294     $ 305,294  
2017 Notes     1,170,354       213,957       1,384,311       1,170,354       167,341       1,337,695  
Gaucho Notes     100,000       9,746       109,746       100,000       6,260       106,260  
Total Debt Obligations   $ 1,270,354     $ 541,418     $ 1,811,772     $ 1,270,354     $ 478,895     $ 1,749,249  

 

[1] Accrued interest is included as a component of accrued expenses on the accompanying condensed consolidated balance sheets.

 

Each of the debt obligations listed above are past due and are payable on demand. The Company incurred interest expense of $31,261 and $62,523 in connection with its debt obligations during the three and six months ended June 30, 2020, respectively, and incurred interest expense of $35,986 and $104,003 in connection with its debt obligations during the three and six months ended June 30, 2019, respectively.