Company: HROW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000925
Chunk: 177

Company: HARROW, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 177
---
    2027 
     16,612,000 
  
    2028 
     16,205,000 
  
    2029 
     16,095,000 
  
    Thereafter 
     102,001,000 
  
    Intangible
    assets 
    $184,719,000 

In connection with an asset purchase agreement between
Novartis and the Company, the Company recognized a $37,000,000 milestone payment during 2024 following the release of the first commercially
available batch of TRIESENCE. The milestone payment was recognized as an increase in the amount of intangible assets for Acquired NDAs.

There were no changes in the carrying value of the
Company’s goodwill during the years ended December 31, 2024 and 2023.

NOTE 12. ACCOUNTS
PAYABLE AND ACCRUED EXPENSES

Accounts payable and accrued expenses at December
31, 2024 and 2023 consisted of the following:

 SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES

    2024  
    2023 

    December 31, 

    2024  
    2023 
  
    Accounts payable 
    $38,762,000  
    $21,424,000 
  
    Accrued insurance premium 
     -  
     873,000 
  
    Accrued interest (see Note 13) 
     2,538,000  
     1,978,000 
  
    Other accrued expenses 
     106,000  
     306,000 
  
    Total accounts payable and accrued expenses 
    $41,406,000  
    $24,581,000 

The Company financed all insurance policies for the
policy terms of August 17, 2023 through August 16, 2024. The financing agreements had an interest rate of 7.48% per annum and required
eight monthly payments of $169,000.

NOTE 13. DEBT

Oaktree Loan Due 2026

In March 2023, the Company
entered into a Credit Agreement and Guaranty, (the “Oaktree Loan”) with Oaktree, providing for a senior secured term loan
facility to the Company with a principal amount of up to $100,000,000. Upon entering into the Oaktree Loan, the Company drew a principal