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Restatement of Previously Issued Financial Statements - Schedule of Consolidated Balance Sheets (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Jun. 30, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
 [2]
Dec. 31, 2022
Dec. 31, 2021
Current assets              
Cash and cash equivalents $ 3,064   $ 2,059     $ 5,308  
Accounts receivable     65     13  
Inventory 241   73      
Loans receivable, net of provision for credit losses 306   279      
Prepaid expenses and other current assets 238   180     129  
Total current assets 3,912   2,656     5,450  
Property and equipment, net 5,826   2,870     975  
Operating lease right-of-use assets 1,622   1,051     1,273  
Intangible Assets, net 9,748   12,076     15,180  
Goodwill 55,573   55,573     55,573
Other non-current assets 129   129     60  
Total assets 76,810   74,355     78,511  
Current liabilities              
Accounts payable 923   1,462     872  
Accrued expenses 539   639     2,961  
Financial liabilities, current            
Financial liabilities, current, net of issuance costs     1,925        
Other current liabilities     786     760  
Total current liabilities 2,431   4,812     4,593  
Financial liabilities, net of issuance costs           7,188  
Warrant liability     3,920     528  
Operating lease liabilities 1,297   840     1,078  
Total liabilities 10,908   5,652     13,387  
Stockholders’ equity              
Preferred stock        
Common stock 9   8     6  
Additional paid-in capital 209,675   200,635     169,175  
Accumulated deficit (149,245)   (131,940)     (104,057)  
Total stockholders’ equity 60,439 $ 65,525 68,703 [1] $ 72,159 [2] $ 69,716 65,124 [1],[2] 15,022
Total liabilities and stockholders’ equity $ 76,810   74,355     78,511  
As Previously Reported [Member]              
Current assets              
Cash and cash equivalents     2,059     5,308  
Accounts receivable     65     13  
Inventory     73        
Loans receivable, net of provision for credit losses     557        
Prepaid expenses and other current assets     427     408  
Total current assets     3,181     5,729  
Property and equipment, net     2,870     975  
Operating lease right-of-use assets     800     1,187  
Intangible Assets, net     11,388     22,224  
Goodwill     60,360     59,126  
Other non-current assets     129     60  
Total assets     78,728     89,301  
Current liabilities              
Accounts payable     1,462     872  
Accrued expenses     411     3,780  
Financial liabilities, current           536  
Financial liabilities, current, net of issuance costs     2,496        
Other current liabilities     250     132  
Total current liabilities     4,619     5,320  
Financial liabilities, net of issuance costs           7,858  
Warrant liability            
Operating lease liabilities     840     1,226  
Total liabilities     5,459 500   14,404  
Stockholders’ equity              
Preferred stock          
Common stock     8     6  
Additional paid-in capital     222,980     194,879  
Accumulated deficit     (149,719)     (119,988)  
Total stockholders’ equity     73,269 $ 9,100   74,897 16,202
Total liabilities and stockholders’ equity     78,728     89,301  
Adjustments [Member]              
Current assets              
Cash and cash equivalents          
Accounts receivable          
Inventory            
Loans receivable, net of provision for credit losses [3]     (278)        
Prepaid expenses and other current assets [4]     (247)     (279)  
Total current assets     (525)     (279)  
Property and equipment, net          
Operating lease right-of-use assets [4]     251     86  
Intangible Assets, net [5]     688     (7,044)  
Goodwill [5]     (4,787)     (3,553)  
Other non-current assets          
Total assets     (4,373)     (10,790)  
Current liabilities              
Accounts payable          
Accrued expenses [6],[7]     228     (819)  
Financial liabilities, current [4]           (536)  
Financial liabilities, current, net of issuance costs [8]     (571)        
Other current liabilities [4]     536     628 [9]  
Total current liabilities     193     (727)  
Financial liabilities, net of issuance costs [8]           (670)  
Warrant liability [5]           528  
Operating lease liabilities         (148) [4]  
Total liabilities     193     (1,017)  
Stockholders’ equity              
Preferred stock          
Common stock          
Additional paid-in capital     (22,345)     (25,704)  
Accumulated deficit     17,779     15,931  
Total stockholders’ equity     (4,566)     (9,773) $ (1,180) [1]
Total liabilities and stockholders’ equity     $ (4,373)     $ (10,790)  
[1] As described in Note 3 to the Consolidated Financial Statements appearing elsewhere in this Amendment, we have restated the Consolidated Financial Statements.
[2] As described in Note 15 to these unaudited condensed consolidated financial statements, we have restated the condensed consolidated statements of stockholders’ equity for the three and nine months ended September 30, 2023.
[3] Uncollectable reserve – We identified a reserve for collection risk related to notes receivable.
[4] Other - We corrected certain classifications, previously identified errors and out of period adjustments that were deemed immaterial to the annual or interim period in which they were recorded and restated prior periods to reflect these corrections in the appropriate periods.
[5] QPhoton purchase accounting – We adjusted the final purchase price accounting for identifiable intangibles and the value attributable to the QPhoton Warrants, as defined below, including associated mark-to-market quarterly adjustments.
[6] Accrued Expenses – We identified and corrected errors to record liabilities for performance-based bonus expenditures and state franchise fees to reflect the expenses in the appropriate period.
[7] Stock-based compensation – We adjusted expenses and prior period retained earnings to reflect the change in our accounting policy election to account for forfeitures as they occur, as well as to refine assumptions used in calculating the fair value. We also ensured all such expenditures were accrued and accounted for in the appropriate periods based on vesting schedules and underlying agreements.
[8] Debt issuance costs – We corrected errors to appropriately accrete issuance costs for the Streeterville Unsecured Note, as defined below, over the life of the loan.
[9] Financing Expenditures – We corrected the presentation of Series A Preferred Stock dividends and ATM proceeds.