Quarterly report pursuant to Section 13 or 15(d)

Debt Financing (Tables)

v2.4.1.9
Debt Financing (Tables)
3 Months Ended
Dec. 28, 2014
Debt Disclosure [Abstract]  
Schedule of fair value for the derivative liabilities related to the convertible notes

The recommended fair value for the derivative liabilities related to the convertible notes at issuance and as of December 28, 2014 is as follows:

 

          Valuation Dates
(Thousands)
       
                   
    11/17/2014     11/17/2014     12/28/2014  
                   
    Investors     Brokers     Total  
                   
Notes   $ 1,550     $ 10     $ 1,560  
                         
Derivative Value     6,929       45       6,127  
                         
Change in Fair Value – Derivatives     -       -       (847 )
(Mark to Market)                        
Schedule of total expenses reflected consolidated statement of operations related to convertible notes

A summary of the total expenses reflected in the consolidated statement of operations related to the convertible notes for the three months ending December 28, 2014 is as follows:

 

    (Thousands)  
Interest Expense:        
         
Fair market value of derivatives – Investors   $ 6,929  
Fair market value of derivatives – Brokers     45  
Less: Debt discount on convertible notes – Investors     (1,550 )
Less: Debt discount on convertible notes – Brokers     (10 )
Fair value adjustment on convertible notes issued 11/17/14   $ 5,414  
         
Debt discount amortization     33  
Note interest at 12% per annum     23  
Debt issuance cost amortization     4  
         
Total Interest Expense (Convertible Notes)   $ 5,474  
         
Change in Fair Value – Derivatives (gain) /loss   $ (847 )