XML 52 R44.htm IDEA: XBRL DOCUMENT v3.24.3
Convertible Debt - Additional Information (Details) - USD ($)
3 Months Ended 9 Months Ended
Aug. 04, 2024
Sep. 28, 2024
Sep. 28, 2024
Dec. 30, 2023
Line of Credit Facility [Line Items]        
Common stock, par value $ 0.01 $ 0.01 $ 0.01 $ 0.01
Common stock, shares outstanding   16,636,380 16,636,380 16,252,813
Convertible debt issued amount     $ 4,200,000  
Original issue discount     700,000  
Debt issuance cost incurred     900,000  
Legal expenses     500,000  
First Incentive Share Installment     250,000  
Original issue discount recorded as interest expense   $ 58,000 58,000  
Debt issuance costs recorded as operating expenses   72,000 72,000  
Debt issuance costs   800,000 800,000  
Convertible notes payable outstanding   2,700,000 2,700,000  
Original isssue discount remaining balance   600,000 600,000  
Commitment fees     105,000  
Short term debt   1,300,000 1,300,000  
Long term debt   $ 1,400,000 $ 1,400,000  
Lind Global Asset Management IX LLC | Senior Convertible Promissory Note        
Line of Credit Facility [Line Items]        
Face value of Convertible promissory Note $ 4,200,000      
Purchase Price of Senior Convertible Promissory Note $ 3,500,000      
Note issuance date Aug. 07, 2024      
Debt instrument, convertible conversion price $ 2.44      
Notes repayment terms Commencing on the date that is one hundred twenty (120) days after the issuance of the applicable Note, provided that no Event of Default (as defined in each of the Notes and further described below) shall have occurred, the Company will repay the Outstanding Principal Amount of such Note in twenty (20) consecutive monthly installments of $210 thousand (the “Monthly Payments”) on each one (1) month anniversary of the issuance date, until the Outstanding Principal Amount of such Note has been paid in full on or prior to the applicable Maturity Date or, if earlier, upon acceleration, repayment, conversion or redemption of such Note in accordance with its terms. At the Company’s option, each month, the Monthly Payments can be made in: (i) cash; (ii) shares of the Common Stock (the “Repayment Shares”); or (iii) a combination of cash and Repayment Shares; provided, that the number of Repayment Shares to be delivered in accordance with clause (ii) or (iii) shall be determined by dividing (X) the portion of the Principal Amount being paid in shares of Common Stock, by (Y) ninety percent (90%) of the average of the five (5) lowest daily VWAPs during the twenty (20) trading days prior to the applicable payment date; provided, further, that no portion of the Principal Amount may be paid in Repayment Shares unless such Repayment Shares (A) may be immediately resold pursuant to Rule 144 (“Rule 144”) under the Securities Act of 1933, as amended (the “1933 Act”), by a person that is not an affiliate of the Company, or (B) are registered for resale under the 1933 Act and the Registration Statement (defined below) is in effect and lawfully usable to effect immediate sales of such Repayment Shares. If the Company makes a Monthly Payment in cash, the Company must also pay Lind a 4% premium of such Monthly Payment and such premium will not be applied towards the Outstanding Principal Amount. Furthermore, with respect to no more than two (2) Monthly Payments, Lind may elect to increase the amount of such Monthly Payment up to $800 thousand; provided that any such increased Monthly Payment is made in Repayment Shares. Following any such increased Monthly Payment, the amount of such increase shall be deducted from the amount of the last Monthly Payment owing under such Note until such Monthly Payment is reduced to zero.      
Debt Instrument, Periodic Payment, Principal $ 210,000      
Debt Instrument Periodic Payment Monthly Payments      
Debt instrument repayment premium percentage 4.00%      
Debt Instrument, Periodic Payment Terms, Balloon Payment $ 800,000      
Lind Global Asset Management IX LLC | Senior Convertible Promissory Note | Minimum [Member]        
Line of Credit Facility [Line Items]        
Debt instrument, convertible conversion price $ 0.39      
Common stock, shares outstanding 3,300,231      
Debt Instrument, convertible percentage of stock 19.99%      
Lind Global Asset Management IX LLC | Senior Convertible Promissory Note | Maximum [Member]        
Line of Credit Facility [Line Items]        
Common stock, shares outstanding 4,952,823      
Debt Instrument, convertible percentage of stock 30.00%      
Lind Global Asset Management IX LLC | Senior Convertible Promissory Note | Subsequent Note        
Line of Credit Facility [Line Items]        
Face value of Convertible promissory Note $ 1,800,000      
Purchase Price of Senior Convertible Promissory Note $ 1,500,000      
Lind Global Asset Management IX LLC | Senior Convertible Promissory Note | First Incentive Share Installment | Equity Purchase Agreement Member        
Line of Credit Facility [Line Items]        
Shares issued pursuant to terms of purchase of agreement     126,968  
Lind Global Asset Management IX LLC | Senior Convertible Promissory Note | Incentive Shares | Equity Purchase Agreement Member        
Line of Credit Facility [Line Items]        
Value of shares issued pursuant to terms of purchase of agreement     $ 250,000