|12 Months Ended|
Dec. 31, 2017
|Debt Disclosure [Abstract]|
NOTE 8: DEBT
Outstanding promissory notes, merchant account agreements and other notes payable consisted of the following:
During the year ended December 31, 2017, the Company borrowed an aggregate of $6,877, net of original issue discounts of $546 and deferred financing costs of $115, under 29 promissory notes payable. The promissory notes payable are unsecured, bear interest between 4% and 12% per annum and mature between September 2017 and August 2020. During the year ended December 31, 2017, the Company repaid a total of $1,453 in cash and issued an aggregate of 3,652,640 shares of common shares for the conversion of $937 in promissory note principal and accrued interest. As of December 31, 2017, the Company has outstanding promissory notes payable of $4,824, net of unamortized discounts of $62 and deferred financing costs of $17.
The required principal payments for all borrowings for each of the five years following the balance sheet date are as follows:
The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.
Reference 1: http://www.xbrl.org/2003/role/presentationRef