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NOTES PAYABLE AND DEBT INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Summary of Long-Term Debt Consists
Long-term debt consists of the following at December 31, 2022 and 2021:
Years ended December 31,
20222021
Revenue Bonds$249,550 $249,550 
Less: Original issue discount and debt issuance costs classified as a reduction to long-term debt(16,037)(17,042)
Bonds payable - long-term$233,513 $232,508 
Summary of Revenue Bonds
(in thousands)
Bond SeriesTermPrincipal
Amount		Interest
Rate		Maturity Date
2020AA1$12,370 6.25 %December 1, 2025
2020AA2$38,700 6.50 %December 1, 2030
2020AA3$168,480 7.00 %December 1, 2042
2020BB1$10,000 10.00 %December 1, 2025
2020BB2$10,000 10.00 %December 1, 2027
2020CC1$10,000 13.00 %December 1, 2027
Schedule of Principals Repayments Due on Bonds Payable
Principal repayments due on the Revenue Bonds payable over the next five years are as follows (in thousands):
Years ending December 31,Amount
2023$— 
20246,975 
202516,730 
20267,570 
202725,105 
Thereafter193,170 
Total principal repayments249,550 
Less: Original issue discount and debt issuance costs classified as a reduction to long-term debt(16,037)
Bonds payable - long-term$233,513 
Summary of the Convertible Notes
The following provides a summary of the interest expense of PCT’s convertible debt instruments (in thousands):
Years ended December 31,
202220212020
Contractual interest expense$— $2,975 $662 
Amortization of deferred financing costs— 1,712 300 
Effective interest rate— %8.94 %9.05 %