Quarterly report pursuant to Section 13 or 15(d)

DEBT (Tables)

v3.21.2
DEBT (Tables)
6 Months Ended
Jun. 30, 2021
DEBT  
Summary of debt obligations

June 30, 

December 31, 

    

2021

    

2020

Central Bank line of credit

$

$

1,978

Central Bank promissory note

 

 

2,122

PPP promissory note

 

1,665

 

 

1,665

 

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

 

513

324

 

2,440

 

2,251

Face value of Centurion debenture

8,000

Less: fair value ascribed to  warrants

(1,204)

Plus: accretion of implied interest

25

Less: net debt issuance costs

(625)

 

6,196

 

Total debt

 

10,301

 

6,351

Less: current portion of debt

 

 

(4,100)

Long-term debt

$

10,301

$

2,251

Schedule of future minimum principal payments

As of June 30, 2021, future minimum principal payments are summarized as follows (stated in thousands):

    

    

PPP

Bank

    

Convertible

 

 

Loan

Indebtedness

 

Debt

Remainder 2021

$

$

$

2022

 

 

 

2023

 

 

 

965

2024

 

 

 

2,485

2025

 

 

8,000

 

2026

1,665

Total

1,665

8,000

3,450

Less: fair value ascribed to conversion feature and warrants

 

 

(1,204)

 

(1,523)

Plus: accretion and implied interest

 

 

25

 

513

Less: net debt issuance costs

(625)

$

1,665

$

6,196

$

2,440