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Debt (Tables)

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Schedule of Debt

Debt consists of the following

(dollar in thousands):

Schedule of Debt 

		Maturity Date		Interest Rate				March 31, 2023				December 31, 2022
Convertible Note		**July 25, 2024			*18	%		$	10,386			$	12,254
Less: debt discount									-				-
Less: discount from issuance of warrants									116				475
Less: debt issuance costs									-				42
Total convertible notes, net of discount and issuance costs								$	10,270			$	11,737

*	Default interest was waived on March 10, 2023
**	On May 11, 2023, the October Secured Notes were extended to July 25, 2024

Schedule of Changes in Level 3 Financial Liabilities Carried at Fair Value

Schedule of  Changes in Level 3 Financial Liabilities Carried at Fair Value 

(in thousands)
Balance, July 19, 2022 (date of Addendum of convertible notes)		$	14,610
Conversions of debt			(1,100	)
Total revaluation loss			597
Balance, September 13, 2022			14,107
Total revaluation gains			(1,853	)
Balance, December 31, 2022		$	12,254
Financial liabilities, Beginning balance		$	12,254
Conversions of debt (January 2023- March 2023)			(1,395	)
Conversions of debt			(1,395	)
Total revaluation gains			(473	)
Total revaluation (gains) loss			(473	)
Balance March 31, 2023		$	10,386
Financial liabilities, Ending balance		$	10,386

Schedule of Promissory Notes

Schedule of Promissory Notes 

		Maturity Dates		Interest Rate				March 31, 2023
Promissory note issuances		November 3 & 10, 2023			15	%		$	900
Less: principal promissory note repayment									(300	)
Outstanding principal outstanding as of March 31, 2023									600
Plus: interest expense accrued									13
Total promissory notes, including accrued interest expense outstanding								$	613

Schedule of Financing Debt

NYDIG Financing

Schedule of Financing Debt 

		Maturity Dates		Interest Rate		March 31, 2023				December 31, 2022
NYDIG Loans #1-11		April 25, 2023 thru January 25, 2027*		12% thru 15	%	$	10,546			$	14,387
Loans Payable		April 25, 2023 thru January 25, 2027*		12% thru 15	%	$	10,546			$	14,387
Less: principal payments							—				3,841
Less: repossession of collateralized assets							3,388				-
Total outstanding debt						$	7,158			$	10,546

* Due to event of default- the entire NYDIG Financing became current, see note below.

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- Definition

Tabular disclosure of convertible debt instrument. Includes, but is not limited to, principal amount and amortized premium or discount.

+ References

No definition available.

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Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-SubTopic 10
-Topic 820
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- Definition

Tabular disclosure of the terms and amounts of participation in loan arrangements.

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-SubTopic 30
-Section 50
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Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.

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