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Debt
 3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Debt Debt
Series C Redeemable Preferred Stock
During the three months ended March 31, 2020, the Company issued 45 shares of Redeemable Preferred Stock with a stated value of $4.5 million for gross proceeds of $4.2 million. The Company received net proceeds of $4.0 million after deducting transaction costs of $0.2 million. The Redeemable Preferred Stock requires mandatory redemption one year after the issuance date, together with an 8.0% dividend and a 12.5% premium on the stated value. As of March 31, 2020 and December 31, 2019 there were 150.33 and 105.33 shares of Redeemable Preferred Stock outstanding, respectively, with redemption dates ranging from December 24, 2020 to March 4, 2021.
The following table presents the components of the Redeemable Preferred Stock as of March 31, 2020 and December 31, 2019:
(In thousands)March 31,
2020		December 31, 2019
Stated value$15,033 $10,533 
Unamortized debt discount(5,305)(5,776)
Accretion of redemption premium411 25 
Accrued dividends263 16 
Redeemable Preferred Stock, net$10,402 $4,798 
The components of financing expense related to the Redeemable Preferred Stock were as follows for the three months ended March 31, 2020:
(In thousands)Three Months Ended March 31, 2020
Amortization of debt discount$1,194 
Accretion of redemption premium386 
Accrual of dividends247 
$1,827 
By their terms, the Redeemable Preferred Stock is not convertible into other securities of the Company. See Note 11. Subsequent Events for additional information about the Redeemable Preferred Stock.
Promissory Notes
The promissory notes are comprised of six bank notes secured by Artilium with varying original maturity dates ranging between 6 and 24 months with an average interest rate of 2.0%. The notes are not convertible. As of March 31, 2020 and December 31, 2019, the outstanding balance on the promissory notes was $0.7 million and $1.0 million, respectively.
Related Party Loan
The Company has a loan payable to Comsystems, a company owned by Gerard Derenbos. Prior to the Artilium acquisition, Mr. Derenbos held approximately 15.0% of the total outstanding common shares of Artilium, and was an Artilium board member. As of March 31, 2020 and December 31, 2019, the outstanding balance was $0.4 million and $0.4 million, respectively. The loan bears interest at 8.0% and matures on December 31, 2021. All principal and interest are due on the maturity date.