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Debt (Tables)

9 Months Ended

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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