Quarterly report pursuant to Section 13 or 15(d)

DEBT (Tables)

v3.21.1
DEBT (Tables)
3 Months Ended
Mar. 31, 2021
DEBT  
Summary of debt obligations

March 31, 

December 31, 

    

2021

    

2020

Bank line of credit

$

1,978

$

1,978

Bank promissory note

 

2,122

 

2,122

Payroll protection program loan

 

1,665

 

 

5,765

 

4,100

Face value of convertible debenture

 

3,450

 

3,450

Less: fair value ascribed to conversion feature and warrants

 

(1,523)

 

(1,523)

Plus: accretion of implied interest

 

419

324

 

2,346

 

2,251

Total debt

 

8,111

 

6,351

Less: current portion of debt

 

(4,100)

 

(4,100)

Long-term debt

$

4,011

$

2,251

Schedule of future minimum principal payments

As of March 31, 2021, future minimum principal payments are summarized as follows (stated in thousands):

    

Bank & PPP

    

Convertible

 

Indebtedness

 

Debt

Remainder 2021

$

4,100

$

2022

 

 

2023

 

 

965

2024

 

 

2,485

2025

 

 

2026

1,665

Total

5,765

3,450

Less: fair value ascribed to conversion feature and warrants

 

 

(1,523)

Plus: accretion and implied interest

 

 

419

$

5,765

$

2,346