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Debt (Tables) | 9 Months Ended
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Sep. 30, 2023
Debt Disclosure [Abstract] |
Schedule of Debt | Debt consists of the following (Dollars in thousands): Schedule of Debt
|  | Maturity Date |  | Interest Rate |  |  | September 30, 2023 |  |  | December 31, 2022 |
Convertible Note |  | July 25, 2024 |  |  | *18 | % |  | $ | 10,796 |  |  | $ | 12,254 |
Less: discount from issuance of warrants |  |  |  |  |  |  |  |  | - |  |  |  | 475 |
Less: debt issuance costs |  |  |  |  |  |  |  |  | - |  |  |  | 42 |
Total convertible notes, net of discount and issuance costs |  |  |  |  |  |  |  | $ | 10,796 |  |  | $ | 11,737 |
* | Default interest was waived on March 10, 2023
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 |
Conversions of debt (January 2023- March 2023) |  |  | (1,394 | )
Total revaluation gains |  |  | (474 | )
Balance March 31, 2023 |  | $ | 10,386 |
Total revaluation loss |  |  | 554 |
Balance, May 11, 2023 |  |  | 10,940 |
Conversions of Debt (May 11, 2023-June 30, 2023) |  |  | (400 | )
Total revaluation loss |  |  | 170 |
Balance June 30, 2023 |  | $ | 10,710 |
Financial liabilities, Beginning balance |  | $ | 10,710 |
Conversions of Debt (July 1, 2023- September 30, 2023) |  |  | (650 | )
Total revaluation losses |  |  | 736 |
Total revaluation (gains) losses |  |  | 736 |
Balance September 30, 2023 |  | $ | 10,796 |
Financial liabilities, Ending balance |  | $ | 10,796 |
Schedule of Promissory Notes | Schedule of Promissory Notes
(Dollars in thousands) |  | Maturity Dates |  | Interest Rate |  |  | September 30, 2023 |
Promissory note issuances |  | November 3 & 10, 2023 |  |  | 15 | % |  | $ | 900 |
Less: principal promissory note repayment |  |  |  |  |  |  |  |  | (900 | )
Total promissory note outstanding as of September 30, 2023 |  |  |  |  |  |  |  | $ | - |
Schedule of Financing Debt | NYDIG Financing Schedule of Financing Debt
(Dollars in thousands) |  | Maturity Dates |  |  | Interest Rate |  |  | September 30, 2023 |  |  | December 31, 2022 |
NYDIG Loans #1-11 |  |  | April 25, 2023 thru January 25, 2027* |  |  |  | 12% thru 15 | % |  | $ | 10,546 |  |  | $ | 14,387 |
Less: principal payments |  |  |  |  |  |  |  |  |  |  | — |  |  |  | 3,841 |
Less: repossession of collateralized assets |  |  |  |  |  |  |  |  |  |  | 2,575 |  |  |  | - |
Total outstanding debt |  |  |  |  |  |  |  |  |  | $ | 7,971 |  |  | $ | 10,546 |
| * | Due to event of default- the entire NYDIG Financing became current, see note below.
Schedule of Navitas Term Loan | Navitas Term Loan Schedule of Navitas Term Loan
(Dollars in thousands) |  | Maturity Dates |  | Interest Rate |  |  | September 30, 2023 |
Term Loan and capitalized interest |  | May 9, 2025 |  |  | 15 | % |  | $ | 2,173 |
Less: principal payments |  |  |  |  |  |  |  |  | - |
Less: debt issuance costs |  |  |  |  |  |  |  |  | 40 |
Total outstanding debt |  |  |  |  |  |  |  |  | 2,133 |
Less: current portion of debt |  |  |  |  |  |  |  |  | 1,083 |
Total Long term debt |  |  |  |  |  |  |  | $ | 1,050 |

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- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482925/835-30-45-2 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482925/835-30-45-1A Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-3 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482949/835-30-55-8 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480848/942-470-50-3 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-6 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-7 + Details
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