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v3.23.3

Term Debt (Tables) | 9 Months Ended
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Sep. 30, 2023
Debt Disclosure [Abstract] |
Schedule of Long Term Debt | The following table summarizes the term debt: Schedule of Long Term Debt
|  | As of September 30, 2023 (unaudited) |  |  | As of December 31, 2022 |
|  |  | Principal Balance |  |  |  | Unamortized Discount and Debt Issuance Costs |  |  |  | Carrying Value |  |  |  | Principal Balance |  |  |  | Unamortized Discount and Debt Issuance Costs |  |  |  | Carrying Value |
Senior Secured Notes, effective interest rate of 11.4% as of September 30, 2023, as amended, matures December 31, 2026, subject to acceleration |  | $ | 62,691 |  |  | $ | (228 | ) |  | $ | 62,463 |  |  | $ | 62,691 |  |  | $ | (904 | ) |  | $ | 61,787 |
Senior Secured Notes, effective interest rate of 11.4% as of September 30, 2023, as amended, matures December 31, 2026, subject to acceleration |  | $ | 62,691 |  |  | $ | (228 | ) |  | $ | 62,463 |  |  | $ | 62,691 |  |  | $ | (904 | ) |  | $ | 61,787 |
Delayed Draw Term Notes, effective interest rate of 12.5% as of September 30, 2023, as amended, matures December 31, 2026, subject to acceleration |  |  | 4,000 |  |  |  | (26 | ) |  |  | 3,974 |  |  |  | 4,000 |  |  |  | (103 | ) |  |  | 3,897 |
2022 Bridge Notes, effective interest rate of 10.2% as of September 30, 2023, as amended, matures December 31, 2026, subject to acceleration |  |  | 36,000 |  |  |  | (95 | ) |  |  | 35,905 |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | 102,691 |  |  | $ | (349 | ) |  | $ | 102,342 |  |  | $ | 66,691 |  |  | $ | (1,007 | ) |  | $ | 65,684 |
Summary of Interest Expense | The following table represents interest expense: Summary of Interest Expense
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Amortization of debt costs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Line of credit |  | $ | 54 |  |  | $ | - |  |  | $ | 161 |  |  | $ | - |
2022 Bridge Notes |  |  | 161 |  |  |  | - |  |  |  | 1,200 |  |  |  | - |
Senior Secured Notes |  |  | 228 |  |  |  | 228 |  |  |  | 676 |  |  |  | 803 |
Delayed Draw Term Notes |  |  | 26 |  |  |  | 52 |  |  |  | 77 |  |  |  | 412 |
2023 Notes |  |  | 64 |  |  |  | - |  |  |  | 64 |  |  |  | - |
Total amortization of debt costs |  |  | 533 |  |  |  | 280 |  |  |  | 2,178 |  |  |  | 1,215 |
Noncash and accrued interest: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Parade |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 86 |
Other accrued interest |  |  | 152 |  |  |  | - |  |  |  | 754 |  |  |  | - |
Total noncash and accrued interest |  |  | 152 |  |  |  | - |  |  |  | 754 |  |  |  | 86 |
Cash paid interest: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Line of credit |  |  | 598 |  |  |  | 372 |  |  |  | 1,345 |  |  |  | 814 |
2022 Bridge Notes |  |  | 1,317 |  |  |  | - |  |  |  | 3,763 |  |  |  | - |
Senior Secured Notes |  |  | 1,602 |  |  |  | 1,602 |  |  |  | 4,754 |  |  |  | 4,754 |
Delayed Draw Term Notes |  |  | 102 |  |  |  | 254 |  |  |  | 303 |  |  |  | 753 |
2023 Notes |  |  | 44 |  |  |  | - |  |  |  | 44 |  |  |  | - |
Other |  |  | 32 |  |  |  | 676 |  |  |  | 422 |  |  |  | 888 |
Total cash paid interest |  |  | 3,695 |  |  |  | 2,904 |  |  |  | 10,631 |  |  |  | 7,209 |
Less interest income (1) |  |  | (338 | ) |  |  | - |  |  |  | (338 | ) |  |  | - |
Total interest expense |  | $ | 4,042 |  |  | $ | 3,184 |  |  | $ | 13,225 |  |  | $ | 8,510 |
(1) | During the three and nine months ended September 30, 2023, the Company recorded interest income of $338 related to the refunds received from the employee retention credits.

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