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Debt (Tables)

3 Months Ended

Mar. 31, 2022

Long-Term Debt

Schedule of Warrants, Valuation assumptions, Black-Scholes method

Risk-free interest rate	1.82%
Expected life of warrants (years)	7
Expected price volatility	49.4%
Expected dividend yield	0%

The carrying amount of the Notes was then determined by deducting the fair value of the Warrants from the principal amount of the Notes. The carrying amount of the Notes was further separated into equity and liability components after separating the value of the conversion feature into an equity component and leaving the remaining value as liability. The equity component is not remeasured while the Notes and Warrants continue to meet the conditions for equity classification for equity components.

The original issue discount and issuance costs are netted against the liability. The following table represents the carrying value of Notes and Warrants:

Schedule of carrying value of Notes and Warrants

		March 31, 2022				December 31, 2021
Liability component:
Principal		$	2,460			$	2,640
Less: debt discount and issuance costs, net of amortization			(450	)			(385	)
Net carrying amount		$	2,010			$	2,255
Equity component⁽¹⁾:
Warrants		$	318			$	318
Conversion feature			122				122
Net carrying amount		$	440			$	440

Current portion of liability component included under short-term debt		$	765			$	720
Long-term portion of liability component included under long-term debt			1,695				1,920
Liability component total		$	2,460			$	2,640

Schedule of maturities of principal amount contained in the Notes

Year ending December 31,		Principal Amount Maturing
2022 (Remainder)		$	540
2023			1,920
2024			—
2025			—
Total principal amount		$	2,460

Schedule of paycheck protection program loan liabilities

		March 31, 2022				December 31, 2021
Current portion of the PPP Loan included under short-term debt		$	571			$	761
Long-term portion of the PPP Loan included under long-term debt			—				—
Liability component total		$	571			$	761