Quarterly report pursuant to Section 13 or 15(d)

4. DEBT (Tables)

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4. DEBT (Tables) - Oxford Loan
9 Months Ended
Sep. 30, 2017
Summary of notes payable
    September 30, 2017   December 31, 2016
         
Oxford - Gross proceeds   $ 20,000,000     $ 20,000,000  
Paydown of principal balance     (4,444,444 )     —    
      15,555,556       20,000,000  
                 
Less:                
Debt discount     (1,021,216 )     (1,567,249 )
Current portion     —         (6,111,111 )
                 
Senior notes payable   $ 14,534,340     $ 12,321,640  
Summary of related party notes payable
    September 30, 2017   December 31, 2016
Biotest - Gross proceeds   $ 15,000,000     $ —    
                 
Less:                
Debt discount     (165,304 )     —    
                 
Note payable - related party   $ 14,834,696     $ —