Unsecured Promissory Note (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Long Term Debt

The following table summarizes our debt at March 31, 2024 and December 31, 2023:

(in thousands)

	March 31, 2024			December 31, 2023
Long-term debt	$	3,330		$	-
Unamortized Original issue discount		(738	)		-
Unamortized Financing fees		(19	)		-
		2,573			-
Less current portion of long-term debt, net (1)		(1,623	)		-
Long-term debt (2)	$	950		$	-

 

(1)	Current portion of long-term debt of approximately $2,000,000 is net of the current portion of debt discount of approximately $367,000 and the current portion of debt origination costs of approximately $10,000 as of March 31, 2024.
(2)	Long-term portion of debt of approximately $1,330,000 is net of the long-term portion of debt discount of approximately $371,000 and the unamortized debt origination costs of approximately $9,000 as of March 31, 2024.

 

Schedule of Long Term Debt Interest Costs Expense and Capital

Interest costs expensed and capitalized related to long-term debt were as follows:

(in thousands)

	March 31, 2024		December 31, 2023
Interest expense	$	29	$	-
Interest capitalized		-		-
Total	$	29	$	-

Schedule of Long Term Debt Amortization Expenses

Amortization expenses related to long-term debt were as follows:

(in thousands)

	March 31, 2024		December 31, 2023
Original issue discount	$	43	$	-
Loan fee amortization		1		-
	$	44	$	-

Schedule of Future Maturities of Long Term Debt

Future maturities of long-term debt as of March 31, 2024 were as follows:

(in thousands)

Fiscal years ending December 31:
2024	$	1,250
2025		2,080
Total	$	3,330