Notes Receivable

6 Months Ended

Jun. 30, 2022

Note Receivable

Note Receivable

7. Notes Receivable

Notes receivable consist of the following for the periods presented

	June 30,		December 31,
	2022		2021
Senior secured promissory notes	$	1,000	$	—
Secured convertible promissory note		179		—
Total notes receivable	$	1,179	$	—

In June 2022, the Company loaned Mellitus an aggregate of $1,000 through the purchase of two senior secured promissory notes that bear interest at a rate of 5% per annum, and mature in three years unless accelerated due to an event of default as provided in the notes. Repayment of notes is secured by a first priority interest in all of Mellitus’ assets.

In May 2022, to facilitate the subordination of such notes in connection with the purchase of the senior secured notes, the Company acquired $179 aggregate principal amount of outstanding convertible notes of Mellitus, which, as amended, mature July 5, 2025, if not automatically converted into preferred stock prior thereto. This note bears an interest rate of 10% per annum.