Annual report pursuant to Section 13 and 15(d)

DEBT AND NOTES PAYABLE (Tables)

v3.22.1
DEBT AND NOTES PAYABLE (Tables)
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
SCHEDULE OF DEBT AND NOTES PAYABLE

Debt and notes payable are summarized as follows:

 

(in thousands)   December 31, 2021     December 31, 2020  
Convertible debt (a)   $ 4,038     $ 4,038  
Convertible promissory note (measured at fair value) (b)     1,099       —  
PPP loans (c)     4,109       2,109  
EIDL loans (d)     300       300  
UK Bounce Back loan (e)     —       68  
Contractor note (f)     348       348  
Notes payable (g)     —       27  
Notes payable (h)     —       26  
Total Debt     9,894       6,916  
Less: discount on convertible debt (a)     (37 )     (223 )
Total Debt, net of discount   $ 9,857     $ 6,693  
                 
Current portion of long-term debt and notes payable   $ 3,264     $ 2,339  
Long-term debt and notes payable, less current portion   $ 6,593     $ 4,354  
SCHEDULE OF MATURITIES OF LONG TERM DEBT

Future minimum payments as of December 31, 2021 are as follows (in thousands):

 

Year ended December 31:        
2022   $ 3,264  
2023     1,033  
2024     4,579  
2025     547  
2026     98  
Thereafter     274  
Total     9,795  
Less: discount on convertible debt     (37 )
Add: fair value adjustment     99  
Total Debt, net of discount     9,857  
Less: current maturities of long-term debt and notes payable     (3,264 )
Long-term debt and notes payable   $ 6,593