Quarterly report pursuant to Section 13 or 15(d)

Debt Obligations

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Debt Obligations
 9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
Debt Obligations

8. DEBT OBLIGATIONS

 

The Company’s debt obligations are summarized below:

 

    September 30, 2020     December 31, 2019  
    Principal     Interest [1]     Total     Principal     Interest [1]     Total  
                                     
2010 Debt Obligations   $ -     $ 324,121     $ 324,121     $ -     $ 305,294     $ 305,294  
2017 Notes     1,170,354       237,521       1,407,875       1,170,354       167,341       1,337,695  
Gaucho Notes     100,000       11,508       111,508       100,000       6,260       106,260  
Total Debt Obligations   $ 1,270,354     $ 573,150     $ 1,843,504     $ 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 $31,732 and $94,255 in connection with its debt obligations during the three and nine months ended September 30, 2020, respectively, and incurred interest expense of $32,699 and $136,702 in connection with its debt obligations during the three and nine months ended September 30, 2019, respectively.