Bridge Financing, Notes Payable, Accrued Interest and Cash Payment Obligation |
The following table summarizes information relative
to all of the outstanding Notes at September 30, 2012 and December 31, 2011:
|
|
September 30, |
|
|
December 31, |
|
|
|
2012 |
|
|
2011 |
|
Bridge notes payable |
|
$ |
4,347,419 |
|
|
$ |
1,062,500 |
|
Less unamortized discounts: |
|
|
|
|
|
|
|
|
Variable maturity discount |
|
|
(51,150 |
) |
|
|
(12,031 |
) |
Warrant discount |
|
|
(198,053 |
) |
|
|
(47,739 |
) |
Bridge notes payable, net of discounts |
|
$ |
4,098,216 |
|
|
$ |
1,002,730 |
|
|
Summary of Notes Payable and Accrued Interest |
The following table summarizes the Companys
notes payable and accrued interest as of September 30, 2012 and December 31, 2011:
|
|
Notes Payable |
|
|
Accrued Interest |
|
|
|
9/30/2012 |
|
|
12/31/2011 |
|
|
9/30/2012 |
|
|
12/31/2011 |
|
Bridge notes, net, as discussed above |
|
$ |
4,098,216 |
|
|
$ |
1,002,730 |
|
|
$ |
151,995 |
|
|
$ |
95,823 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mobivity note, as discussed above |
|
|
- |
|
|
|
310,135 |
|
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unsecured (as amended) note payable due to our Companys former Chief Executive Officer, interest accrues at the rate of 9% compounded annually, all amounts due and payable December 31, 2008, See Note 12 |
|
|
20,000 |
|
|
|
20,000 |
|
|
|
13,020 |
|
|
|
10,871 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note payable due to a trust, interest accrues at the rate of 10% per annum, all amounts due and payable December 31, 2006. The Company is negotiating the terms of this note. |
|
|
51,984 |
|
|
|
51,984 |
|
|
|
22,987 |
|
|
|
19,084 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Digimark, LLC secured subordinated promissory note, as discussed above |
|
|
- |
|
|
|
175,000 |
|
|
|
- |
|
|
|
4,648 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Digimark, LLC subordinated promissory note, net, as discussed above |
|
|
100,462 |
|
|
|
179,151 |
|
|
|
- |
|
|
|
- |
|
|
|
$ |
4,270,662 |
|
|
$ |
1,739,000 |
|
|
$ |
188,002 |
|
|
$ |
130,426 |
|
|