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Debt (Tables) | 9 Months Ended
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Sep. 30, 2017
Debt Disclosure [Abstract] |
Schedules of Long-term Debt and Long-term Debt Instruments | Debt consisted of the following (in thousands):
| September 30, 2017 |  | December 31, 2016
Main Street Term Loan | $ | — |  |  | $ | 9,000 |
SRS Note | — |  |  | 1,785 |
Western Alliance Bank A/R Revolver | 1,000 |  |  | — |
Super G Loan | 1,096 |  |  | — |
Unamortized debt discounts | (308 | ) |  | (125 | )
Net carrying value | 1,788 |  |  | 10,660 |
Less: current maturities | (1,298 | ) |  | (10,660 | )
Long-term obligations, net of debt discount | $ | 490 |  |  | $ | — |
The Company reduced debt and accrued interest obligations by $9,362,000 as of July 31, 2017 in the Debt Recapitalization and lowered outstanding shares of common stock by 404,587, as summarized in the following two tables.
|  | Former Debt Obligations as of July 31, 2017 * |  | Debt Obligations Extinguished on July 31, 2017 * |  | New Outstanding Debt Obligations as of July 31, 2017**
Main Street Term Loan: principal |  | $ | 9,000,000 |  |  | $ | (9,000,000 | ) |  | — |
SRS Note: principal |  | 1,784,692 |  |  | (1,784,692 | ) |  | — |
SRS Note: accrued interest |  | 777,568 |  |  | (777,568 | ) |  | — |
Western Alliance Bank: principal |  |  |  |  |  | $ | 1,100,000 |
Super G Capital: principal |  |  |  |  |  | 1,100,000 |
Total |  | $ | 11,562,260 |  |  | $ | (11,562,260 | ) |  | $ | 2,200,000 |
* The amounts presented herein represent the gross outstanding principal amounts and exclude approximately $89,000 of unamortized debt discounts.
** The amounts presented herein represent the gross outstanding principal amounts and exclude approximately $335,000 of unamortized debt discounts.
Schedule of Common Stock Outstanding |
Outstanding Shares of Common Stock on July 31, 2017 prior to the Debt Recapitalization | 36,534,840 |
Shares of common stock purchased in connection with the Main Street Payoff | (7,711,517 | )
Shares of common stock issued in connection with the SRS Note Exchange | 7,306,930 |
Outstanding Shares of Common Stock on July 31, 2017 after the Debt Recapitalization | 36,130,253 |
Schedule of Future Minimum Principal Payments | Future minimum principal payments on debt as of September 30, 2017, are as follows (in thousands):
Year Ending December 31, | Western Alliance Bank | Super G | Total
Remaining 2017 | $ | 200 |  | $ | 64 |  | $ | 264 |
2018 | 400 |  | 570 |  | 970 |
Seven months ended July 31, 2019 | 400 |  | 462 |  | 862 |
| $ | 1,000 |  | $ | 1,096 |  | $ | 2,096 |

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21475-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21506-112644 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644 + Details
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- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
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