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v3.23.1

Accrued Expenses and Other Current Liabilities | 3 Months Ended
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Mar. 31, 2023
Accrued Expenses and Other Current Liabilities |
Accrued Expenses and Other Current Liabilities | Note 7. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities as of March 31, 2023 and December 31, 2022 consisted of the following:
(in thousands) |  | March 31, 2023 |  |  | December 31, 2022 |
Accrued professional fees |  | $ | 610 |  |  | $ | 524 |
Accrued bonuses and incentive compensation |  |  | 880 |  |  |  | 2,042 |
Accrued litigation legal fees expense |  |  | 1,001 |  |  |  | 1,001 |
Accrued insurance expense |  |  | — |  |  |  | 264 |
Accrued vacation and other employee related expenses |  |  | 534 |  |  |  | 534 |
Accrued severance and other related charges |  |  | 301 |  |  |  | — |
Accrued valued-added tax |  |  | 162 |  |  |  | 133 |
Deferred revenue |  |  | 17 |  |  |  | 152 |
Other |  |  | 265 |  |  |  | 192 |
|  | $ | 3,770 |  |  | $ | 4,842 |
Finance and Security Agreement On July 5, 2022, the Company entered into a Commercial Insurance Premium Finance and Security Agreement (the "2022 Agreement"). The 2022 Agreement provides for a single borrowing by the Company of approximately $783,000 with a nine-month term and an annual interest rate of 2.49%. The proceeds from this transaction were used to partially fund the premiums due under certain of the Company's insurance policies. The amounts payable are secured by the Company's rights under such policies. The Company began to pay monthly installments of approximately $87,900 in July 2022. All borrowings were fully repaid as of March 31, 2023. During the three months ended March 31, 2023, the Company recognized $2,035 in interest expense.

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- Definition The entire disclosure for accounts payable, accrued expenses, and other liabilities that are classified as current at the end of the reporting period. + References No definition available. + Details
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