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CONVERTIBLE NOTES (Tables)

9 Months Ended

Sep. 30, 2021

Long-term debt consists of the following:


	Dollars in Thousands
	September 30, 2021		December 31, 2020
Department of Economic and Community Development (DECD)	$	212	$	233
DECD debt issuance costs		(19)		(22)
Financed insurance loan		—		12
Paycheck Protection Program		—		787
Total long-term debt		193		1,010
Current portion of long-term debt		(26)		(648)
Long-term debt, net of current maturities	$	167	$	362

Convertible Bridge Loan

Debt Instrument [Line Items]

Summary of change in Bridge Note debt discounts and debt premiums

During the three months ended September 30, 2020, there was no Bridge Note activity. During the nine months ended September 30, 2020, the change in Bridge Note debt discounts and debt premiums was as follows:


(Dollars in thousands)		For the Nine Months Ended September 30,

	2020
		Debt Discounts		Debt Premiums
Beginning balance at January 1	$	(1,796)	$	—
Additions:		—		793
Deductions:
Amortization (accretion) (1)		703		(385)
Write-off related to note conversions (2)		138		(408)
Write-off related to note extinguishment (3)		955		—
Balance at September 30	$	—	$	—

(1)

Amortization/accretion is recognized as interest expense/income within the condensed consolidated statements of operations based on the effective interest method.

(2)

Write-offs associated with note conversions are recognized as an offset to additional paid-in capital at the time of the conversion.

(3)

Write-offs associated with note extinguishment are recognized as a loss and included in loss on extinguishment of convertible notes in the condensed consolidated statements of operations.