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Subsequent Events | 9 Months Ended
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Sep. 30, 2023
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events From October 1, 2023 through November 9, 2023, we sold an additional 1,040,613 shares of our common stock pursuant to the terms of our At Market Issuance Sales Agreement with Wainwright for aggregate net cash proceeds of $181. Transaction costs were not significant. From October 1, 2023 through November 9, 2023, we sold an additional 1,254,882 shares of our common stock, including certain commitment shares issued to Lincoln Park in connection with the transaction, for aggregate net cash proceeds of $215. From October 1, 2023 through November 9, 2023, vested restricted stock units covering 850,116 shares of our common stock were released to team members and service providers that related to grants previously awarded to those individuals. This figure is inclusive of the 500,000 shares issued to our former chief executive officer as more fully described in Note 10 above. From October 1, 2023 through November 9, 2023, we issued 3,738,500 shares of our common stock pursuant to conversion under our amended 2022 Promissory Note, which represented $600 in related principle and interest payments thereunder. On October 4, 2023, we entered into a lease termination agreement with the landlord of our office space in San Diego, California, in which the landlord and us agreed to terminate our lease effective October 31, 2023. We agreed to forfeit our security deposit of approximately $14 and pay an early termination fee in the amount of approximately $68 on October 31, 2023. The lease was originally scheduled to conclude on June 30, 2025. On November 1, 2023, we committed to a plan to discontinue and wind down, either by sale or closing, operations of Lyte. We expect to complete this process by the end of 2023. As of result, the Company estimates that it will incur cash costs related to the wind down of between $0.2 million and $0.4 million. We currently expect these costs to be paid during the fourth quarter of 2023 and primarily funded from proceeds from sale of Lyte’s assets. In addition, the Company currently expects to incur pre-tax, non-cash losses that could approximate up to $3.0 million during the fourth quarter of 2023. In connection therewith, on November 9, 2023, we entered into a lease termination agreement with Jonsson ATX Warehouse, LLC, the landlord of our Lyte warehouse facility, in which the landlord and us agreed to terminate the lease for our Lyte facility effective November 30, 2023. We agreed to forfeit our security deposit of approximately $77 and we paid on November 9, 2023 a termination fee of approximately $120. The lease was originally scheduled to conclude on July 31, 2027.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483399/855-10-50-2 + Details
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