XML 70 R57.htm IDEA: XBRL DOCUMENT v3.23.1
NOTES PAYABLE (Details Narrative) - USD ($)
12 Months Ended
Jun. 18, 2021
Aug. 28, 2020
Jun. 27, 2018
Dec. 31, 2022
Dec. 31, 2021
Jun. 30, 2021
Feb. 28, 2020
Line of Credit Facility [Line Items]              
Restricted cash       $ 6,000,000.0      
Interest expense       5,028,618 $ 569,881    
Financing fee       $ 35,720      
Warrants issued       4,059     213,333
Warrant exercise price       $ 31.05      
Horizon Credit Agreement Amendment [Member]              
Line of Credit Facility [Line Items]              
Interest expense debt         225,920    
Amortization of debt issuance costs         139,428    
Horizon Technology Finance Corporation [Member]              
Line of Credit Facility [Line Items]              
Line of credit $ 5,425,000            
Horizon Credit Agreement [Member]              
Line of Credit Facility [Line Items]              
Proceeds from lines of credit   $ 10,000,000 $ 10,000,000        
Line of credit     10,000,000        
Interest expense debt         190,581    
Repaid loan amount   5,000,000          
Payment of debt end term charges   200,000          
Loan remaining outstanding amount   5,000,000          
Gain (loss) on contract termination         234,419    
Horizon Credit Agreement [Member] | Horizon Technology Finance Corporation [Member]              
Line of Credit Facility [Line Items]              
Line of credit facility, maximum borrowing capacity           $ 10,000,000  
Debt instrument face amount   10,000,000          
Amendment to Horizon Credit Agreement [Member] | Horizon Technology Finance Corporation [Member]              
Line of Credit Facility [Line Items]              
Payment of debt end term charges   200,000          
Debt instrument face amount   $ 5,000,000     5,000,000    
Debt instrument, interest rate terms   The obligations bore interest at a rate calculated based on an amount by which the one-month LIBOR exceeds 2% plus 7.625%. In no event could the interest rate be less than 9.625%. Payments pursuant to the Amendment were interest only for the first 12 months after August 1, 2020, followed by a 21-month amortization period of principal and interest through the scheduled maturity date on April 1, 2023. In addition, the remaining $5 million in obligations was subject to an end of term fee equal, in the aggregate, to $275,000, which amount was payable upon the maturity of the obligations or upon the date of final payment or default, as applicable.          
Payments of debt extinguishment costs   $ 5,000,000     5,000,000    
Debt instrument, fee amount   $ 275,000          
Debt instrument, restrictive covenants   In connection with the Amendment, Imunon agreed to a liquidity covenant which provided that, at all times, Imunon maintain unrestricted cash and/or cash equivalents on deposit in accounts over which the applicable lenders maintained an account control agreement in an amount not less than $2.5 million. In addition, pursuant to the Amendment, Imunon agreed to provide evidence to Horizon on or before March 31, 2021, that it received aggregate cash proceeds of not less than $5 million from the sale of equity, debt, its New Jersey NOLs, or a combination thereof, subsequent to the date of the Amendment. The Company met this requirement during the fourth quarter of 2020.          
Debt instrument, unamortized discount         109,706    
Financing fee         5,000    
Warrants not settleable in cash, fair value disclosure         247,548    
Amendment to Horizon Credit Agreement [Member] | Horizon Technology Finance Corporation [Member] | Common Stock [Member]              
Line of Credit Facility [Line Items]              
Warrants issued   16,501          
Warrant exercise price   $ 15.15          
Warrants cancelled   6,337          
Horizon Credit Agreement [Member]              
Line of Credit Facility [Line Items]              
Financing fees and expenses     $ 175,000        
End of term charge percentage     4.00%        
Debt instrument, fee amount         142,605    
Loan processing fee     $ 100,000        
Debt instrument, unamortized discount     782,116        
Financing fee     400,000        
Fair Value Adjustment of Warrants     $ 507,116        
End term fees         275,000    
Horizon Credit Agreement [Member] | Common Stock [Member]              
Line of Credit Facility [Line Items]              
Warrants issued     12,674        
Warrant exercise price     $ 39.45        
Warrant outstanding     6,337        
Silicon Valley Bank [Member]              
Line of Credit Facility [Line Items]              
Line of credit facility, maximum borrowing capacity 10,000,000            
Proceeds from lines of credit 6,000,000            
Restricted cash $ 6,000,000.0            
Debt instrument, interest rate 7.75%            
Final payment percentage 3.00%            
Line of credit $ 10,000,000            
Debt instrument, description Payments under the loan agreement are interest only for the first 24 months after loan closing, followed by a 24-month amortization period of principal and interest through the scheduled maturity date.            
Financing fees and expenses $ 243,370            
End of term charge percentage 3.00%            
Interest expense $ 300,000            
Interest expense debt       $ 295,792 106,709    
Amortization of debt issuance costs       $ 181,259 $ 97,831