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Notes Payable
6 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
Notes Payable
Note 9 – Notes Payable
(a) Loan and Security Agreement – Western Alliance Bank
On March 30, 2020, the Company entered into a Loan and Security Agreement (the “Loan Agreement”) with Western Alliance Bank (the “Bank”) that provided an initial term loan (“Term Loan”) facility of $7.0 million and a $5.0 million revolving line of credit. Obligations to the Bank under the Loan Agreement were secured by a first priority security interest in the Company’s assets, except for certain permitted liens that have priority to the Bank’s security interest by operation of law.
On April 27, 2021, the Company repaid its obligations in the aggregate amount of $7,354,283 and terminated the Loan Agreement with the Bank, and the Company’s collateral securing the facility was released. The Company accounted for this repayment and retirement as an extinguishment of the Loan Agreement. The Company recorded a loss on extinguishment of approximately $386,000 at that time related to the repayment and retirement of the Loan Agreement. The loss on extinguishment was composed of approximately $140,000 for a prepayment fee, $122,000 for the unaccrued final payment, $65,000 termination and other fees, and $58,000 for the unamortized discount and other closing costs from origination of the loan.
The following amounts are included in interest expense related to the Loan Agreement in the Company’s consolidated statement of operations for the three and six months ended June 30, 2022 and 2021:
 
    
Three Months Ended June 30,
    
Six Months Ended June 30,
 
    
2022
    
2021
    
2022
    
2021
 
Cash interest expense
   $ —        $ 27      $ —        $ 107  
Accrual of notes payable final payment
     —          2        —          9  
Amortization of debt costs
     —          —          —          13  
    
 
 
    
 
 
    
 
 
    
 
 
 
Total interest expense
   $  —        $ 29      $ —        $ 129