Assure Holdings Corp. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

DEBT (Tables)

DEBT (Tables)

12 Months Ended

Dec. 31, 2023

As of December 31, 2023, and 2022, the Company’s debt obligations are summarized as follows (stated in thousands):


	December 31,		December 31,
	2023		2022
Face value of convertible debt	$	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		1,467		1,086
Total convertible debt		3,334		2,953

Face value of Centurion debt		11,000		11,000
Less: deemed fair value ascribed to warrants		(1,204)		(1,204)
Plus: accretion of implied interest		776		476
Less: unamortized debt issuance costs		(227)		(386)
Total Centurion debt		10,345		9,886
Total debt		13,679		12,839
Less: current portion of debt		(13,679)		(965)
Long-term debt	$	—	$	11,874

Schedule of future minimum principal payments

As of December 31, 2023, future minimum principal payments are summarized as follows (stated in thousands):


	Convertible
		Debt	Debenture
Principal due in 2024	$	3,390	$	11,000
Less: fair value ascribed to conversion feature and warrants		(1,523)		(1,204)
Plus: accretion and implied interest		1,467		776
Less: debt issuance costs		—		(227)
	$	3,334	$	10,345

Schedule of accretion expense and interest expense related to debt obligations

The following table depicts accretion expense, debt issuance cost amortization and interest expense related to the Company’s debt obligations for the years ended December 31, 2023, and 2022 (in thousands):


	Year Ended December 31,
	2023		2022
Accretion expense
Convertible debt	$	381	$	381
Centurion debt		300		300
	$	681	$	681

Debt issuance cost amortization
Centurion debt	$	159	$	161

Interest paid
Convertible debt	$	221	$	221
Centurion debt		1,278		1,230
	$	1,499	$	1,451

- 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