Financial Liabilities

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Financial Liabilities

Note 7. Financial Liabilities

On February 8, 2017, the Company entered into a Loan and Security Agreement (as amended or amended and restated from time to time, the “Loan Agreement”) with East West Bank (“EWB”). Following subsequent amendments, the Loan Agreement provided a $20.0 million revolving loan facility (at prime minus 0.25%) maturing on February 8, 2025. The Loan Agreement contained customary representations and warranties and customary affirmative and negative covenants, including, limits or restrictions on the Company’s ability to incur liens, incur indebtedness, make certain restricted payments (including dividends), merge or consolidate and dispose of assets, as well as other financial covenants. Upon the closing of Asset Sale, as discussed in Note 3. Discontinued Operations, the Company and EWB terminated the Loan Agreement, with EWB releasing all liens on the Company's net assets.