Pressure BioSciences, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Convertible Debt and Other Debt (Tables)

Convertible Debt and Other Debt (Tables)

6 Months Ended

Jun. 30, 2018

	Debt converted to stock
Current liabilities
Convertible Debentures, face value	$	6,962,634
Revolving Note with interest		4,750,000
May 19, 2017 Promissory Note with interest		750,000
Other Notes with interest		226,000
Total debt converted in the second quarter of 2018	$	12,688,634

Schedule of Convertible Debts and Outstanding Balances

Convertible Notes

Inception Date	Term			Loan Amount		Outstanding Balance with OID			Original Issue Discount			Interest Rate			Conversion Price (Convertible at Inception Date)		Deferred Finance Fees		Discount related to fair value of conversion feature and warrants/shares
July 22, 2015		30 months	¹	$	2,398,000	$	-	⁴	$	218,000	²		10	%³	$	8.40	$	388,532	$	2,163,074
September 25, 2015		30 months	¹		1,210,000		-	⁴		110,000	²		10	%³	$	8.40		185,956		1,022,052
October 2, 2015		30 months	¹		165,000		-	⁴		15,000	²		10	%³	$	8.40		26,345		140,832
October 6, 2015		30 months	¹		33,000		-	⁴		3,000	²		10	%³	$	8.40		5,168		26,721
October 14, 2015		30 months	¹		55,000		-	⁴		5,000	²		10	%³	$	8.40		8,954		49,377
November 2, 2015		30 months	¹		275,000		-	⁴		25,000	²		10	%³	$	8.40		43,079		222,723
November 10, 2015		30 months	¹		55,000		-	⁴		5,000	²		10	%³	$	8.40		8,790		46,984
November 12, 2015		30 months	¹		236,500		-	⁴		21,500	²		10	%³	$	8.40		38,518		212,399
November 20, 2015		30 months	¹		220,000		-	⁴		20,000	²		10	%³	$	8.40		37,185		200,000
December 4, 2015		30 months	¹		187,000		-	⁴		17,000	²		10	%³	$	8.40		37,352		170,000
December 11, 2015		30 months	¹		396,000		-	⁴		36,000	²		10	%³	$	8.40		75,449		360,000
December 18, 2015		30 months	¹		60,500		-	⁴		5,500	²		10	%³	$	8.40		11,714		55,000
December 31, 2015		30 months	¹		110,000		-	⁴		10,000	²		10	%³	$	8.40		20,634		100,000
January 11, 2016		30 months	¹		110,000		-	⁴		10,000	²		10	%³	$	8.40		24,966		80,034
January 20, 2016		30 months	¹		55,000		-	⁴		5,000	²		10	%³	$	8.40		9,812		40,188
January 29, 2016		30 months	¹		330,000		-	⁴		30,000	²		10	%³	$	8.40		60,887		239,113
February 26, 2016		30 months	¹		220,000		-	⁴		20,000	²		10	%³	$	8.40		43,952		156,048
March 10, 2016		30 months	¹		137,500		-	⁴		12,500	²		10	%³	$	8.40		18,260		106,740
March 18, 2016		30 months	¹		396,000		-	⁴		36,000	²		10	%³	$	8.40		94,992		265,008
March 24, 2016		30 months	¹		117,334		-	⁴		10,667	²		10	%³	$	8.40		15,427		91,240
March 31, 2016		30 months	¹		195,670		-	⁴		17,788	²		10	%³	$	8.40		2,436		175,446
October 20, 2017		12 months			150,000		-			-			5	%	$	7.50		7,500		-
October 25, 2017		6 months			103,000		-			-			12	%		-		3,000
October 27, 2017		12 months			170,000		-			-			5	%		-		4,250		10,000
November 13, 2017		9 months			380,000		-			15,200			8	%	$	7.50		15,200		46,274
November 22, 2017		12 months			100,000		-			10,000			5	%		-		2,000		-
November 28, 2017		10 months			103,000		-			3,000			12	%		-		-		-
November 29, 2017		6 months			150,000		-			-			15	%	$	7.50		-		15,200
November 30, 2017		3 months			50,000		-			-			8	%	$	7.50		-		-
December 5, 2017		3 months			52,500		-			-			10	%	$	7.50		2,500		-
December 6, 2017		4 months			100,000		-			-			10	%	$	7.50		-		-
December 11, 2017		6 months			130,000		-			1,500			5	%		-		6,500		6,460
December 19, 2017		6 months			110,000		-			1,500			5	%		-		5,500		5,775
December 28, 2017		6 months			55,000		-			-			15	%	$	7.50		5,000		-
December 29, 2017		12 months			105,000		-			-			5	%		-		5,000		-
January 3, 2018		12 months			95,000		95,000			4,750			5	%		-		2,000		-
January 16, 2018		12 months			131,250		131,250			-						-		6,250		-
January 19, 2018		6 months			150,000		150,000			-			10	%	$	7.50		6,000		12,267
February 9, 2018		6 months			100,000		100,000			-			15	%	$	7.50		23,500		-
February 15, 2018		6 months			100,000		100,000			-			15	%	$	7.50		9,000		10,474
March 12, 2018		6 months			85,000		85,000			1,150			5	%		-		4,250		5,183
March 12, 2018		6 months			253,000		253,000			53,000			0	%		-				28,722
April 11, 2018		6 months			100,000		100,000			4,000			15	%	$	7.50		20,000		7,218
April 23, 2018		6 months			103,000		103,000			-			12	%		-		3,000		-
April 24, 2018		9 months			77,000		77,000			-			12	%	$	7.50		2,000		-
April 25, 2018		12 months			105,000		105,000			-			4	%	$	7.50		5,000		4,590
April 25, 2018		12 months			105,000		105,000			-			4	%	$	7.50		5,000		4,590
April 25, 2018		12 months			130,000		130,000			-			6	%	$	7.50		6,500		-
April 26, 2018		12 months			65,000		65,000			6,500			5	%		-		2,000		-
May 9, 2018		12 months			250,000		250,000			-			10	%	$	7.50		12,500		26,466
May 11, 2018		6 months			161,250		161,250			11,250			15	%	$	7.50		10,000		-
May 14, 2018		9 months			50,000		50,000			2,500			15	%	$	7.50		2,500		3,704
May 17, 2018		12 months			380,000		380,000			15,200			8	%	$	7.50		15,200		43,607
May 23, 2018		9 months			103,000		103,000			-			12	%		-		3,000		-
May 24, 2018		9 months			52,500		52,500			2,500			4	%		-		-		2,075
May 25, 2018		12 months			78,750		78,750			-			4	%	$	7.50		3,750		3,112
May 30, 2018		2 months			150,000		150,000			-			8	%	$	7.50		-		6,870
June 4, 2018		12 months			75,000		75,000			7,500			5	%		-		2,000		3,869
June 8, 2018		6 months			50,000		50,000			2,500			15	%	$	7.50		2,500		3,271
June 12, 2018		6 months			100,000		100,000			-			5	%	$	7.50		5,000		-
June 14, 2018		9 months			280,000		280,000			25,000			10	%		-		5,000		17,573
June 16, 2018		9 months			130,000		130,000			-			5	%		-		-		-
June 16, 2018		6 months			110,000		110,000			-			5	%		-		-		-
June 26, 2018		3 months			150,000		150,000			-			15	%	$	7.50		-		20,242
June 28, 2018		6 months			50,000		50,000			-			15	%	$	7.50		-		10,518
				$	12,490,754	$	3,769,750		$	800,005							$	1,343,858	$	6,221,039

1. The loan term was extended by 180 days and further extended on January 15, 2018 by 60 days to repay in common stock. The Debenture holders signed letter agreements on May 14, 2018 and June 11, 2018 to waive default penalties relating to the maturity date.

2. The original issue discount is reflected in the first year.

3. The annual interest started accruing in the second year.

4. The Debentures were converted into Series AA Convertible Preferred Stock.

Summary of Changes in Convertible Debt, Net of Unamortized Discounts

The following table provides a summary of the changes in convertible debt and revolving note payable, net of unamortized discounts, during 2018:

	2018
Balance at January 1,	$	11,787,776
Issuance of convertible debt, face value		4,029,750
Deferred financing cost		(326,800	)
Debt discount related to one-time interest charge		(132,000	)
Contingent beneficial conversion feature on convertible note		(253,000	)
Debt discount from warrants issued with debt		(162,023	)
Debt discount from shares issued with the notes		(170,745	)
Conversion of debt into equity		(10,962,634	)
Payments		(1,518,500	)
Accretion of interest and amortization of debt discount to interest expense through June 30,		930,343
Balance at June 30,		3,222,167
Less: current portion		3,222,167
Convertible debt, long-term portion	$	-

Schedule of Merchant Agreements

The following table shows our Merchant Agreements as of June 30, 2018.

Inception Date	Purchase Price		Purchased Amount		Outstanding Balance		Daily Payment		Interest Rate			Deferred Finance Fees
September 29, 2017		75,000		102,000	$	-		1,200.00		15	%		1,500
October 25, 2017		110,000		153,890		-		1,539.00		15	%		8,800
December 7, 2017		160,000		212,800		-		1,251.76		25	%		5,799
December 12, 2017		160,000		212,800		-		1,251.76		15	%		5,258
February 27, 2018		110,000		147,400		-		921.25		25	%		1,650
April 11, 2018		140,000		187,600		96,503		1275.00		13	%		2,800
May 11, 2018		180,000		243,000		151,542		1,518.75		25	%		2,599
May 15, 2018		180,000		244,800		156,067		1,530.00		15	%		3,600
June 29, 2018		140,000		190,400		140,000		1,269.33		25	%		2,100
	$	1,255,000	$	1,694,690	$	544,112						$	34,106