Quarterly report pursuant to Section 13 or 15(d)

DEBT (Tables)

v3.24.3
DEBT (Tables)
6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Summary of debt obligations

June 30, 

December 31, 

    

2024

    

2023

Face value of convertible debt

$

3,450

$

3,450

Less: principal converted to common shares

(394)

(60)

Less: deemed fair value ascribed to warrants and beneficial conversion feature

 

(1,096)

 

(1,523)

Plus: accretion of implied interest

 

1,096

1,467

Total convertible debt

 

3,056

 

3,334

Face value of Centurion debt

10,918

11,000

Less: deemed fair value ascribed to warrants

(1,204)

(1,204)

Plus: accretion of implied interest

927

776

Less: unamortized debt issuance costs

(146)

(227)

Total Centurion debt

 

10,495

 

10,345

Total debt

 

13,551

 

13,679

Less: current portion of debt

 

(13,551)

 

(13,679)

Long-term debt

$

$

Schedule of accretion expense and interest expense related to debt obligations

Three Months Ended June 30, 

Six Months Ended June 30, 

2024

    

2023

2024

    

2023

Accretion expense

  

 

  

  

 

  

Convertible debt

$

$

95

$

27

$

191

Centurion debt

 

75

 

76

 

150

150

$

75

$

171

$

177

$

341

Debt issuance cost amortization

  

 

  

  

 

  

Centurion debt

$

40

$

39

$

81

$

78

Interest paid

Convertible debt

$

$

75

$

$

221

Centurion debt

 

 

380

 

668

 

756

$

$

455

$

668

$

977

Schedule of future minimum principal payments

Three Months Ended June 30, 

Six Months Ended June 30, 

2024

    

2023

2024

    

2023

Accretion expense

  

 

  

  

 

  

Convertible debt

$

$

95

$

27

$

191

Centurion debt

 

75

 

76

 

150

150

$

75

$

171

$

177

$

341

Debt issuance cost amortization

  

 

  

  

 

  

Centurion debt

$

40

$

39

$

81

$

78

Interest paid

Convertible debt

$

$

75

$

$

221

Centurion debt

 

 

380

 

668

 

756

$

$

455

$

668

$

977

As of June 30, 2024, future minimum principal payments are summarized as follows (in thousands):

    

Convertible

    

 

Debt

 

Debenture

Principal due in 2024

$

3,056

$

10,918

Less: fair value ascribed to conversion feature and warrants

 

(1,096)

 

(1,204)

Plus: accretion and implied interest

 

1,096

 

927

Less: debt issuance costs

(146)

$

3,056

$

10,495