March 31, 

December 31, 

Interest

($ in thousands)

2020

2019

Rate

Maturity

Horizon Notes (1)(2)

$

15,750

$

15,750

9.00

%  

October - 2022

Discount on notes payable

(2,062)

(2,321)

Total notes payable

$

13,688

$

13,429

Less: current portion

(3,125)

(1,250)

Long-term notes payable

$

10,563

$

12,179

(1)

Balance includes $0.75 million final payment fee

(2)

Interest rate is 9.00% plus one-month LIBOR Rate in excess of 2.5%