Debt (Tables)

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

he following table summarizes the Company's outstanding debt:

(in thousands)	March 31, 2018			December 31, 2017
2016 Credit and Security Agreement	$	4,887		$	10,015
Term Loans	8,250			8,500
Discount on Term Loans	(555		)	(631		)
Unamortized debt issuance costs related to Term Loans	(207		)	(220		)
Subordinated Promissory Note, net	1,559			1,543
Capital Leases	45			107
Total debt	13,979			19,314
Short-term portion	(13,979		)	(19,314		)
Total long-term debt	$	—		$	—

Schedule of Components of Interest Expense

The following table summarizes the components of interest expense:

	Three Months Ended
	March 31,
(in thousands)	2018		2017
Interest expense on Term Loans (effective interest rate at March 31, 2018 and 2017 was 28% and 15%, respectively)	$	349	$	138
Interest expense on 2016 Credit and Security Agreement	173		81
Interest expense on Subordinated Promissory Note	39		—
Interest expense on Capital Leases	5		—
Accretion of termination fees (over term of Term Loan at rate of 8%)	111		41
Amortization of debt issuance costs	75		140
Amortization of debt discount associated with SWK Warrants #1 and #2 (defined below)	77		367
Amortization of Subordinated Promissory Note Discount	15		—
Mark to market of SWK Warrant #2 (defined below)	42		—
Total	$	886	$	767

Schedule of Debt Covenant Compliance

The covenants are summarized in the tables below and are on a pro forma basis as if the Merger with PHS happened as of April 1, 2017:

(in thousands)	Minimum Aggregate Revenue (LTM) as of the end of:
Months Ending	Twelve	Twelve	Twelve	Twelve	Twelve
Period Ended	March 31, 2018	June 30, 2018	September 30, 2018	December 31, 2018	each fiscal quarter thereafter
	$69,000	$70,000	$71,000	$74,000	$75,000
	Minimum Adjusted EBITDA as of the end of:
Months Ending	Twelve	Twelve	Twelve	Twelve	Twelve
Period Ended	March 31, 2018	June 30, 2018	September 30, 2018	December 31, 2018	each fiscal quarter thereafter
	$5,000	$5,200	$6,000	$8,000	$9,000
	Minimum Consolidated Unencumbered Liquid Assets as of:
	The end of each fiscal quarter
	$1,000

The covenants are summarized in the tables below and are on a pro forma basis as if the Merger with PHS happened as of April 1, 2017:

(in thousands)	Minimum Aggregate Revenue (LTM) as of the end of:
Months Ending	Twelve	Twelve	Twelve	Twelve	Twelve
Period Ended	March 31, 2018	June 30, 2018	September 30, 2018	December 31, 2018	each fiscal quarter thereafter
	$69,000	$70,000	$71,000	$74,000	$75,000
	Minimum Adjusted EBITDA as of the end of:
Months Ending	Twelve	Twelve	Twelve	Twelve	Twelve
Period Ended	March 31, 2018	June 30, 2018	September 30, 2018	December 31, 2018	each fiscal quarter thereafter
	$5,000	$5,200	$6,000	$8,000	$9,000
	Minimum Consolidated Unencumbered Liquid Assets as of:
	The end of each fiscal quarter
	$1,000