Annual report pursuant to Section 13 and 15(d)

Long-Term Debt / Note Payable (Tables)

v2.4.0.8
Long-Term Debt / Note Payable (Tables)
 12 Months Ended
Dec. 31, 2013
Long-Term Debt / Note Payable  
Schedule of long-term debt / note payable

 

 

 

 

December 31,
2013

 

December 31,
2012

 

Revenue Interest Purchase Agreement with PDL BioPharma, Inc. (“PDL”) for aggregate of $20,800,000 with amounts payable monthly at 9.95% of Net Revenues through September 2014; and the greater of (i) 9.95% of product revenue or (ii) specific quarterly amounts varying from approximately $1.3 million to $2.5 million per quarter through September 2020. The minimum annual payment amounts are as follows: 2014 - $1,250,805, 2015 - $6,781,440, 2016 - $9,232,642, 2017 and 2018 - $9,000,000, 2019 - $9,063,000 and 2020 - $6,939,000.

 

$

25,363,695

 

$

21,580,252

 

Long-term portion

 

$

25,363,695

 

$

21,580,252