Assure Holdings Corp. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

DEBT (Tables)

DEBT (Tables)

6 Months Ended

Jun. 30, 2023


	June 30,		December 31,
	2023		2022
Face value of convertible debenture	$	3,450	$	3,450
Less: principal converted to common shares		(60)		(60)
Less: deemed fair value ascribed to conversion feature and warrants		(1,523)		(1,523)
Plus: accretion of implied interest		1,277		1,086
Total convertible debt		3,144		2,953

Face value of Centurion debenture		11,000		11,000
Less: deemed fair value ascribed to warrants		(1,204)		(1,204)
Plus: accretion of implied interest		626		476
Less: net debt issuance costs		(308)		(386)
Total Centurion debt		10,114		9,886
Total debt		13,258		12,839
Less: current portion of debt		(2,620)		(965)
Long-term debt	$	10,638	$	11,874

Schedule of accretion expense and interest expense related to debt obligations

The following table depicts accretion expense and interest expense (excluding debt issuance cost amortization) related to the Company’s debt obligations for the three and six months ended June 30, 2023 and 2022 (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Accretion expense
Convertible debenture	$	95	$	95	$	191	$	191
Centurion debenture		76		76		150		150
	$	171	$	171	$	341	$	341

Debt issuance cost amortization
Centurion debenture	$	39	$	40	$	78	$	80

Interest paid
Convertible debenture	$	75	$	77	$	221	$	221
Centurion debenture		380		284		756		548
	$	455	$	361	$	977	$	769

Schedule of future minimum principal payments

As of June 30, 2023, future minimum principal payments are summarized as follows (in thousands):


	Convertible
		Debt	Debenture
2023	$	2,620	$	—
2024		770		—
2025		—		11,000
Total		3,390		11,000
Less: fair value ascribed to conversion feature and warrants		(1,523)		(1,204)
Plus: accretion and implied interest		1,277		626
Less: net debt issuance costs		—		(308)
	$	3,144	$	10,114

- 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.

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+ Details