SpectraScience Inc (SCIE)

[integral]

As of December 31, 2015 and 2014, the balances of the Debentures are as follows:

December 31,
2015 2014

Balance at beginning of period $ 4,496,602 $ 2,951,629
Issuance of debentures for cash 1,970,250 2,506,376
Original issue discount 145,263 128,071
Debentures converted to common stock (437,355 ) (1,089,474 )
Convertible debt 6,174,760 4,496,602
Less unamortized costs of financing 349,729 576,502
Convertible debt, net of unamortized costs $ 5,825,031 $ 3,920,100

Convertible debt in default $ 4,313,199 $ 1,862,160