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)

3 Months Ended

Mar. 31, 2016

Schedule of Convertible Debts and Outstanding Balances

The specific terms of the convertible debts and outstanding balances as of March 31, 2016 are listed in the table below.

Fixed Rate Convertible Notes

Inception Date	Term		Loan Amount		Outstanding Balance		Original Issue Discount			Interest Rate				Deferred Finance Fees		Discount related to Fair value of conversion feature and warrants
July 22, 2015		24 months	$	2,180,000	$	2,180,000	$	218,000	¹		10	%	²	$	388,532	$	2,163,074
September 25, 2015		24 months		1,100,000		1,100,000		110,000	¹		10	%	²		185,956		1,022,052
October 2, 2015		24 months		150,000		150,000		15,000	¹		10	%	²		26,345		140,832
October 6, 2015		24 months		30,000		30,000		3,000	¹		10	%	²		5,168		26,721
October 14, 2015		24 months		50,000		50,000		5,000	¹		10	%	²		8,954		49,377
November 2, 2015		24 months		250,000		250,000		25,000	¹		10	%	²		43,079		222,723
November 10, 2015		24 months		50,000		50,000		5,000	¹		10	%	²		8,790		46,984
November 12, 2015		24 months		215,000		215,000		21,500	¹		10	%	²		38,518		212,399
November 20, 2015		24 months		200,000		200,000		20,000	¹		10	%	²		37,185		200,000
December 4, 2015		24 months		170,000		170,000		17,000	¹		10	%	²		37,352		170,000
December 11, 2015		24 months		360,000		360,000		36,000	¹		10	%	²		75,449		360,000
December 18, 2015		24 months		55,000		55,000		5,500	¹		10	%	²		11,714		55,000
December 31, 2015		24 months		100,000		100,000		10,000	¹		10	%	²		20,634		100,000
January 11, 2016		24 months		100,000		100,000		10,000	¹		10	%	²		24,966		80,034
January 20, 2016		24 months		50,000		50,000		5,000	¹		10	%	²		9,812		40,188
January 29, 2016		24 months		300,000		300,000		30,000	¹		10	%	²		60,887		239,113
February 26, 2016		24 months		200,000		200,000		20,000	¹		10	%	²		43,952		156,048
March 10, 2016		24 months		125,000		125,000		12,500	¹		10	%	²		18,260		106,740
March 18, 2016		24 months		360,000		360,000		36,000	¹		10	%	²		94,992		265,008
March 24, 2016		24 months		106,667		106,667		10,667	¹		10	%	²		15,427		91,240
March 31, 2016		24 months		167,882		167,882		16,788	¹		10	%	²		2,436		165,446
			$	6,319,549	$	6,319,549	$	631,955						$	1,158,408	$	5,912,979

Summary of Changes in Convertible Debt, Net of Unamortized Discount

The following table provides a summary of the changes in convertible debt, net of unamortized discount, during 2016:

	2016
Balance at January 1,	$	277,342
Issuance of convertible debt, face value		1,550,504
Original issue discount		(140,955	)
Debt discount from derivative liabilities (embedded conversion option and warrants)		(1,143,817	)
Deferred financing fees		(275,232	)
Accretion of interest and amortization of debt discount to interest expense through March 31,		839,234
Balance at March 31,		1,107,076
Less: current portion		100,000
Convertible debt, long-term portion	$	1,007,076