Notes Payable	6 Months Ended
Jun. 30, 2024
Notes Payable
Notes Payable	Note 9. Notes Payable *Note Payable - Director & Officer Liability Insurance* The Company purchased director and officer liability insurance coverage on October 16, 2023 for $447 thousand. A down payment of $157 thousand was made and the remaining balance of $291 thousand was financed over 8 months through a short-term financing arrangement with its insurance carrier. The interest rate on the loan is 8.990%. Interest expense on this loan was $1 thousand and $4 thousand for the three and six months ended June 30, 2024, respectively. The loan balance was $184 thousand as of as December 31, 2023. The loan balance was paid off in May of 2024 and therefore there is no balance as of June 30, 2024. *8% Short Term Promissory Notes (collectively, the “Related Party Notes”)* On May 30, 2024, David A. Jenkins, Executive Chair and Chief Executive Officer, loaned $500,000 to the Company in exchange for a short term promissory note (the "May Related Party Note"). On June 25, 2024, an entity controlled by Mr. Jenkins loaned $150,000 to the Company in exchange for a short term promissory note (the "June Related Party Note"). The Related Party Notes have a maturity date of August 30, 2024, and bear interest at the rate of 8% per annum. The Related Party Notes and the debt evidenced thereby, including all principal and interest, accelerate and become immediately due and payable upon the occurrence of certain customary events of default, including failure to pay amounts owing when due, material breach of representations or warranties by the Company (unless waived by the holder of the Related Party Note or cured within 10 days following notice) and/or certain events involving a discontinuation of the Company’s business or certain types of proceedings involving insolvency, bankruptcy, receivership and the like. Interest expense on the Related Party Notes was $4 thousand for the three and six months ended June 30, 2024. The balance of the Related Party Notes and accrued interest was $654 thousand as of June 30, 2024, $4 thousand of which is related to the Interest payable to related parties on the condensed consolidated balance sheets. See Note 19, Related Parties, for additional details.

Notes Payable

6 Months Ended

Jun. 30, 2024

Note 9. Notes Payable

Note Payable - Director & Officer Liability Insurance

The Company purchased director and officer liability insurance coverage on October 16, 2023 for $447 thousand. A down payment of $157 thousand was made and the remaining balance of $291 thousand was financed over 8 months through a short-term financing arrangement with its insurance carrier. The interest rate on the loan is 8.990%. Interest expense on this loan was $1 thousand and $4 thousand for the three and six months ended June 30, 2024, respectively. The loan balance was $184 thousand as of as December 31, 2023. The loan balance was paid off in May of 2024 and therefore there is no balance as of June 30, 2024.

8% Short Term Promissory Notes (collectively, the “Related Party Notes”)

On May 30, 2024, David A. Jenkins, Executive Chair and Chief Executive Officer, loaned $500,000 to the Company in exchange for a short term promissory note (the "May Related Party Note").

On June 25, 2024, an entity controlled by Mr. Jenkins loaned $150,000 to the Company in exchange for a short term promissory note (the "June Related Party Note").

The Related Party Notes have a maturity date of August 30, 2024, and bear interest at the rate of 8% per annum.

The Related Party Notes and the debt evidenced thereby, including all principal and interest, accelerate and become immediately due and payable upon the occurrence of certain customary events of default, including failure to pay amounts owing when due, material breach of representations or warranties by the Company (unless waived by the holder of the Related Party Note or cured within 10 days following notice) and/or certain events involving a discontinuation of the Company’s business or certain types of proceedings involving insolvency, bankruptcy, receivership and the like.

Interest expense on the Related Party Notes was $4 thousand for the three and six months ended June 30, 2024. The balance of the Related Party Notes and accrued interest was $654 thousand as of June 30, 2024, $4 thousand of which is related to the Interest payable to related parties on the condensed consolidated balance sheets.

See Note 19, Related Parties, for additional details.