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v3.22.2.2

Loans Payable (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended
--- | --- | --- | ---
Feb. 17, 2022 | Apr. 27, 2020 | Jun. 30, 2018 | Jun. 30, 2022 | Jun. 30, 2022
Loans Payable (Details) [Line Items] |  |  |  |  |
Loans payable description |  |  |  |  | (1)8.0% cash interest per annum through maturity at February 15, 2025.(2)0.59% cash interest per annum (the applicable federal rate) through maturity at February 17, 2023.(3)10.0% cash interest per annum through maturity at February 15, 2025.(4)Interest was paid-in-kind (“PIK”) through October 2021, at which point interest became payable in cash at the stated interest rates through maturity.
Promissory note, description |  | the Company entered into a Promissory Note with Old National Bank (the “Promissory Note”), which provided for an unsecured loan of $1,552 (the “PPP Loan”) pursuant to the Paycheck Protection Program under the Coronavirus Aid, Relief, and Economic Security Act and applicable regulations (the “CARES Act”). The Promissory Note had a term of two years with a 1% per annum interest rate. |  |  |
Principal installments | $ 104 |  |  |  |
Credit agreement description |  |  |  |  | The Credit Agreement also provides that the Company’s outstanding loans from Slipstream at December 31, 2021, consisting of its pre-existing $4,767 senior secured term loan and $2,418 secured convertible loan, with an aggregate of $7,185 in outstanding principal and accrued and unpaid interest under such loans, were consolidated into a term loan (the “Consolidation Term Loan”). The Consolidation Term Loan has an interest rate of 10.0%, with 75.0% warrant coverage (or 2,694,495 warrants). On the first day of each month, commencing March 1, 2022 through February 1, 2025, the Borrowers will make interest-only payments on the Consolidation Term Loan (estimated to be $60 per monthly payment). Commencing on September 1, 2023, and on the first day of each month thereafter until the Maturity Date, the Borrowers will make a payment on the Consolidation Term Loan, in an equal monthly installment of principal sufficient to fully amortize the Consolidation Term Loan in eighteen equal installments (estimated to be $399 per monthly installment). The Company assessed the combination of the pre-existing senior secured term loan and secured convertible loan in accordance with ASC 470 Debt and determined the transaction should be accounted for as an extinguishment, in part as the Consolidation Term Loan eliminated a substantive conversion feature. In aggregate the Company recorded a loss on extinguishment of $295, primarily associated with the write-off of pre-existing debt discounts.
Existing debt |  |  |  |  | $ 10,000
Gross proceeds |  |  |  |  | 10,000
Net proceeds |  |  |  |  | $ 9,950
Maturity date |  |  |  | Feb. 17, 2025 | Feb. 17, 2025
Acquisition loan interest rate percentage |  |  |  | 8.00% | 8.00%
Warrant coverage percentage |  |  |  |  | 50.00%
Warrant shares (in Shares) |  |  |  | 2,500,000 | 2,500,000
Payments on acquisition loan description |  |  |  |  | On the first day of each month, commencing March 1, 2022 through February 1, 2025, the Borrowers will make interest-only payments on the Acquisition Loan (estimated to be $67 per monthly payment). No principal payments on the Acquisition Loan are payable until the Maturity Date.
Shares purchase (in Shares) |  |  |  |  | 5,194,495
Initial exercise price (in Dollars per share) |  |  |  |  | $ 2
Fair value of per warrant (in Dollars per share) |  |  |  | $ 0.8129 | $ 0.8129
Incremental interest expense |  |  |  | $ 166 | $ 525
Loan and security agreement description |  |  |  |  | The Company paid no fees in exchange for these extensions, with the exception of the March 7, 2021 extension which resulted in the Company recording of $133 of incremental debt discount, a net gain of $26 via the extinguishment of the Special Loan, and expense of $69 of costs incurred with third parties as a result of extinguishment of the Special Loan, modification of the New Term Loan, and extinguishment of the Disbursed Escrow Loan.
Vesting of performance shares previously granted to CEO |  |  | $ 264 |  |
Minimum [Member] |  |  |  |  |
Loans Payable (Details) [Line Items] |  |  |  |  |
Consolidation term loans |  |  |  | 2,032 | $ 2,032
Maximum [Member] |  |  |  |  |
Loans Payable (Details) [Line Items] |  |  |  |  |
Consolidation term loans |  |  |  | $ 2,190 | $ 2,190
Secured Promissory Note [Member] |  |  |  |  |
Loans Payable (Details) [Line Items] |  |  |  |  |
Agreement shares issued | $ 2,500 |  |  |  |
Interest rate | 0.59% |  |  |  |

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