NOTES PAYABLE, NET (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of maturities for notes payable outstanding

The following is a schedule of future principal payments for all of the Company’s notes payable outstanding as of December 31, 2023 (amounts in thousands): 

2024(1)	$	18,000
Total future principal payments	18,000
Notes payable (2)	$	18,000

(1)As discussed above, on January 18, 2024, the Company was notified of its maturity default on the SRT Loan following its failure to pay the amount of the debt outstanding and due to the SRT Lender on the January 9, 2024 maturity date.

(2)As described in Note 3, “Summary of Significant Accounting Policies” on July 1, 2023, the Company adopted the liquidation basis of accounting which requires the Company to record notes payable at their contractual amounts.

Interest Income and Interest Expense Disclosure

The following table sets forth interest costs incurred by the Company for the periods presented (amounts in thousands):

	Year Ended December 31,
	2022
Expensed
Interest costs, net of amortization of deferred financing costs	$	1,698
Amortization of deferred financing costs	720
Total interest expensed	$	2,418
Capitalized
Interest costs, net of amortization of deferred financing costs	$	779
Amortization of deferred financing costs	87
Total interest capitalized	$	866