Loans Payable

3 Months Ended

Mar. 31, 2024

Loans Payable

Loans Payable

12. Loans Payable

As a result of the acquisition of VCN, the Company acquired interest-free or below-market interest rates loans (0%-1%) extended by Spanish governmental institutions of Ministerio de Ciencia, Innovacion y Universidades (RETOS loan) and ACC10 Generalitat de Catalunya (NEBT loan). The maturities of these loans are between 2024 and 2028. As a result of the VCN Acquisition, the Company maintains a restricted cash collateral account of $99,000 relating to the RETOS loan, which is reflected as a non-current asset on the balance sheet.

	March 31, 2024		March 31, 2024		December 31, 2023		December 31, 2023
	Current		Non-current		Current		Non-current
NEBT Loan		8	$	24		8		24
RETOS 2015		54		135		55		138
	$	62	$	159	$	63	$	162

A maturity analysis of the debt as of March 31, 2024 is as follows (amounts in thousands of dollars):

2024	62
2025	64
2026	53
2027	33
2028	9
Total	221