Quarterly report pursuant to Section 13 or 15(d)

LONG-TERM DEBT AND NOTES PAYABLE (Tables)

v3.22.1
LONG-TERM DEBT AND NOTES PAYABLE (Tables)
 3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
SCHEDULE OF DEBT AND NOTES PAYABLE

Long-term debt and notes payable are summarized as follows:

 

(in thousands)   March 31, 2022     December 31, 2021  
10% convertible debt (a)   $     $  
10% convertible debt (a)   $ 4,038     $ 4,038  
8% convertible debt (b)     1,350       —  
Convertible promissory note (measured at fair value) (c)     983       1,099  
PPP loans (d)     4,109       4,109  
EIDL loans (e)     300       300  
Contractor note (f)     348       348  
Notes payable (g)     256       —  
Total Debt     11,384       9,894  
Less: discount on convertible debt (a), (b)     (293 )     (37 )
Total Debt, net of discount   $ 11,091     $ 9,857  
                 
Current portion of long-term debt and notes payable   $ 3,651     $ 3,264  
Long-term debt and notes payable, less current portion   $ 7,440     $ 6,593  
SCHEDULE OF FUTURE MINIMUM PAYMENTS

Future minimum payments are as follows (in thousands):

 

Year ending December 31:        
2022 (remaining nine months)   $ 3,520  
2023     2,383  
2024     4,579  
2025     547  
2026     98  
Thereafter     274  
Less: discount on convertible debt     (293 )
Less: fair value adjustment     (17 )
Debt     11,091  
Less: current maturities of long-term debt and notes payable     (3,651 )
Long-term debt and notes payable   $ 7,440