Annual report pursuant to Section 13 and 15(d)

Debt (Tables)

v3.22.1
Debt (Tables)
12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Summary of Debt Obligations The following table sets forth our various debt obligations:

December 31,
2021 2020
2021 Promissory Note $ 5,220  $ — 
Series A Note (principal amount) —  2,481 
Series B Note (principal amount) —  3,585 
Paycheck Protection Program Loan —  2,850 
Convertible Notes —  250 
Promissory Notes —  905 
Total debt $ 5,220  $ 10,071 
Debt discount - warrants (2021 Promissory Note) (316) — 
Debt discount - warrants (2020 Convertible Notes) —  (1,029)
Debt discount - issuance costs (2020 Convertible Notes) —  (650)
Less: current maturities of long-term debt (4,904) (4,435)
Less: long-term related-party debt —  (195)
Long-term debt $ —  $ 3,762 
Summary of Calculated Aggregate Fair Values and Assumptions
The following table sets forth the assumptions used and calculated aggregated fair values of the liability classified warrants:
December 31, 2021 December 31, 2020
Strike price per share $ 2.25  $ 4.00 
Closing price per share $ 2.63  $ 1.26 
Term (years) 1.53 2.53
Volatility 186  % 146  %
Risk-free rate 0.56  % 0.17  %
Dividend Yield
Summary of Change in Fair Value of Warrant Liability A summary of the change in fair value of the warrant liability is set forth below:
2021 2020
Balance, beginning of period $ 1,614  $ — 
Warrant issued —  2,486 
Warrant Exercised (16,148) — 
Change in fair value of warrant liability 18,139  (872)
Balance, end of period $ 3,605  $ 1,614 
Summary of Interest Expense The following table sets forth interest expense for our various debt obligations included in the consolidated statements of operations and comprehensive loss:

Year Ended December 31,
2021 2020
2020 Convertible Notes $ 1,111  $ 722 
Accretion of debt discount - issuance costs 1,913  686 
Accretion of debt discount - warrants 1,029  1,457 
2021 Promissory Note
203  — 
Senior Convertible Note —  197 
Factoring financing agreement 75  175 
All other debt and financing obligations 150  176 
Total $ 4,481  $ 3,413