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DEBT AND OTHER LIABILITIES | 9 Months Ended
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Sep. 30, 2025
Debt Disclosure [Abstract] |
DEBT AND OTHER LIABILITIES | NOTE 8 – DEBT AND OTHER LIABILITIES Debt We had the following outstanding Note Payable balance as of September 30, 2025: SCHEDULE OF OUTSTANDING NOTE PAYABLE BALANCE
Principal amount |  | $ | 8,225 |
Less: Unamortized debt issuance costs and original issue discount |  |  | (338 | )
Total notes payable |  | $ | 7,887 |
On June 9, 2025, we entered into a note purchase agreement the Lender secured by the assets of Airway Integrated Management Company, LLC, a Colorado limited liability company and a wholly-owned subsidiary of the Company (“AIM”), pursuant to which we agreed to issue and sell to the Lender the Note in an aggregate initial principal amount of $8.3 million, which is payable on or before the date that is 18 months from the issuance date. The initial principal amount includes an original issue discount of $0.7 million and $50 thousand that we agreed to pay to the Lender to cover the Lender’s legal fees, accounting costs, due diligence, monitoring and other transaction costs. The net proceeds from the Note were $7.5 million. Interest on the Note accrues at a rate of 9% per annum and is payable on the maturity date. The Company may prepay all or a portion of the Note at any time. A monitoring fee of 10% of the outstanding balance will be charged starting on the 120-day anniversary of the issuance of the Note (October 7, 2025) to cover Lender’s accounting, legal and other costs incurred in monitoring. The foregoing fee shall automatically be added to the outstanding balance on the applicable date without any further action by either party. Beginning on the sixth month anniversary of the issuance, the Lender shall have the right to redeem up to $0.6 million of the Note plus any interest accrued thereunder each month by providing written notice delivered to us; provided, however, that if the Lender does not exercise any monthly redemption amount in its corresponding month then such monthly redemption amount shall be available for the Lender to redeem in any further month in addition to such future month’s monthly redemption amount. Upon receipt of any monthly redemption notice, we shall pay the applicable monthly redemption amount in cash to the Lender within three (3) trading days of the Company’s receipt of such monthly redemption notice. The Note includes customary event of default provisions, subject to certain cure periods, and provides for a default interest rate equal to the lesser of twenty-two percent (22%) or the maximum rate permitted under applicable law. Upon the occurrence of an event of default, interest would accrue on the outstanding balance of the Note beginning on the date the applicable event of default occurred. Interest expense recognized on the condensed consolidated statement of operations was $0.5 million for the three months ended September 30, 2025, and $0.6 million for the nine months ended September 30, 2025. Other Liabilities As of September 30, 2025 and December 31, 2024, other liabilities consist of the following (in thousands): SCHEDULE OF OTHER LIABILITIES
|  | September 30, 2025 |  |  | December 31, 2024 |
Contingent consideration on acquisition of SCN |  | $ | 1,400 |  |  | $ | - |
Total |  | $ | 1,400 |  |  | $ | - |

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 2: http://www.xbrl.org/2003/role/disclosureRef 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