XML 87 R57.htm IDEA: XBRL DOCUMENT v3.20.1
Loans Payable (Details Textual) - USD ($)
$ / shares in Units, $ in Thousands
1 Months Ended 12 Months Ended
Nov. 09, 2018
Jan. 16, 2018
Feb. 20, 2020
Nov. 19, 2018
Oct. 29, 2018
Apr. 30, 2018
Apr. 27, 2018
Dec. 31, 2019
Dec. 31, 2018
Nov. 20, 2018
Aug. 17, 2016
Short-term Debt [Line Items]                      
Convertible special loan, description               ● be the most senior equity security of CRI, including with respect to the payment of dividends and other distributions;● be on substantially the same terms and conditions as CRI's Series A-1 6% Convertible Preferred Stock as set forth in its Certificate of Designation immediately before the same was cancelled pursuant to a Certificate of Cancellation dated as of March 13, 2019; ● not be subject to a right of redemption upon the part of a holder thereof; ● accrue and pay quarterly dividends at the rate of twelve percent (12%) per annum which shall be payable in cash; ● have a Stated Value that is an amount mutually agreed by CRI and the Lender at the time of issuance; ● Conversion Price shall be an amount equal to 80% of the average for the 30-day period ending two days prior to the required conversion date of the daily average of the range of CRI's common stock (calculated pursuant to information on The Wall Street Journal Online Edition), subject to appropriate adjustments; and ● neither section 6(e) of the Series A-1 Certificate of Designation nor any similar provision shall apply to the New Preferred.      
Convertible promissory note, description               (1) 0.0% interest per annum. (2) 8.0% cash interest per annum when total borrowings under the term and revolver loans, in aggregate, are below $4,100 in principal (disregarding PIK interest); 8.0% cash, 2.0% PIK when total borrowing under the term and revolver loans, in aggregate, exceed $4,100 in principal (disregarding PIK interest). (3) 3.5% simple cash interest per annum; interest payable quarterly with the first payment due on December 31, 2018 with payments of accrued interest continuing quarterly thereafter until the maturity date of February 20, 2020. (4) 8.0% cash interest per annum, comprised of 6.0% cash, 2.0% PIK. Interest payable monthly with the first payment due on February 1, 2020. In an event of default, the interest rate increases by 6.0% to 14.0%. Debt is convertible to preferred stock at the earlier of an event of default or October 1, 2020. While the stated maturity date of the Special Loan is June 30, 2021, the mandatory conversion feature into preferred stock as of October 1, 2020 results in the classification of this debt instrument as a current liability on the consolidated balance sheet.      
Conversions of common stock         1,386,090            
Issuance of common stock shares         653,062            
Long term seller note payable               $ 3,757 $ 3,233    
Slipstream Communications, LLC [Member] | Secured Disbursed Escrow Promissory Note [Member]                      
Short-term Debt [Line Items]                      
Interest rate, description               We drew $264 in conjunction with our exit from a previously leased operating facility. The principal amount of the Secured Disbursed Escrow Promissory Note will bear simple interest at the 8%; provided, further, however, that the Loan Rate with respect to the Secured Disbursed Escrow Promissory Note shall be 0% at all times when the aggregate outstanding principal amount of the Term Loan and the Revolving Loan (excluding the additional principal added pursuant to this proviso) is at or below $4,000.      
Loan and Security Agreement [Member] | Slipstream Communications, LLC [Member]                      
Short-term Debt [Line Items]                      
Principal amount         $ 4,955            
Borrowed loan   $ 1,000         $ 1,100       $ 3,000
Convertible special loan, description               We entered into Special Loan as part of the Seventh Amendment under which we obtained $2,000, with interest thereon at 8% per annum payable 6% in cash and 2% via the issuance of SLPIK interest, provided however that upon occurrence of an event of default the interest rate shall automatically be increased by 6% per annum payable in cash. The entry into the Seventh Amendment adjusted the interest rate on the Company's Term Loan and Revolving Loan to 8% per annum, provided, however, at all times when the aggregate outstanding principal amount of the Term Loan and the Revolving Loan exceeds $4,100 then the Loan Rate shall be 10%, of which eight percent 8% shall be payable in cash and 2% shall be paid by the issuance of and treated as additional PIK.      
Term loan interest percentage   8.00%         8.00%       8.00%
Terms of warrant   5 years         5 years        
Maturity date   Jan. 16, 2019         Jan. 16, 2019        
Warrants to purchase common stock   61,729         143,791        
Share price per share         $ 7.65   $ 7.65        
Fair value of warrants   $ 266         $ 543        
Interest rate, description             The aggregate outstanding principal amount of the Term Loan and the Revolving Loan (excluding the additional principal added pursuant to this proviso) exceeds $4,000 then the Loan Rate shall be 10%, of which eight percent 8% shall be payable in cash and 2% shall be paid by the issuance of and treated as additional principal of the Term Loan ("PIK"); provided, further, however, that the Loan Rate with respect to the Disbursed Escrow Loan shall be 0%.        
Convertible promissory note, description Extended the maturity date of our term loan and revolver loan to August 16, 2020 through the Fifth Amendment to the Loan and Security Agreement. In conjunction with the extension of the maturity date of our term loan, we agreed that the interest rate would increase from 8.0% per annum to 10.0% per annum effective July 1, 2019.     We used proceeds from our common stock offering to repay Slipstream $1,283, inclusive of $125 of accrued interest, to reduce borrowings under the Loan and Security Agreement to an aggregate of $4,264, comprised of $3,000 term loan, $1,000 revolving loan and $264 secured disbursed escrow promissory note. The consolidated balance sheet includes $27 of accrued interest as of December 31, 2018 representing one month's interest at 8.0% on the $4,000 outstanding balance. The conversion was contingent upon (i) the conversion of the Company's Series A Preferred Stock, and (ii) the successful completion of a Public Offering of at least $10,000, each of which were successfully completed on November 19, 2018. In exchange for participation in the Public Offering, subject to a minimum participation requirement as agreed between the underwriters and the Company, and Slipstream's execution of a lock-up agreement, Slipstream received, as a one-time incentive, additional common stock and warrants in such number that decreased the effective conversion price of the convertible notes to 70% of the lowest of those scenarios outlined above.            
Adjusted per share price value   $ 8.10       $ 8.09          
Interest on convertible promissory note   8.00%         8.00%        
Share conversion price, description         Common stock and warrants at a conversion price equal to the lower of $7.65, or 80% of the price at which shares of common stock were sold in the Public Offering.            
Allure Global Solutions, Inc. [Member]                      
Short-term Debt [Line Items]                      
Maturity date     Feb. 20, 2020                
Seller note payable [1]               $ 900      
Estimated net working capital deficit               801      
Accounts payable to seller for outsourced services               $ 1,403      
Promissory note accruing interest percent               3.50%   3.50%  
Initial conversion price               $ 8.40      
Description of conversion of all amounts               Conversion of all amounts owing under the promissory note will be mandatory if the 30-day volume-weighted average price of our common stock exceeds 200% of the common stock trading price at the closing of the acquisition.      
Allure Global Solutions, Inc. [Member] | Stock Purchase Agreement [Member]                      
Short-term Debt [Line Items]                      
Accounts payable to seller for outsourced services               $ 2,204      
Long term seller note payable               $ 2,303      
[1] Represents a note payable due from Allure to Seller, under a pre-existing Seller Note which was amended and restated for this amount through the Stock Purchase Agreement. At the closing date, the estimated net working capital deficit of Allure was $801 in excess of the target net working capital as defined in the stock purchase agreement. As of the acquisition date, Allure also had accounts payable to Seller for outsourced services of $2,204. We agreed with the Seller to settle the estimated net working capital deficit through a reduction in the accounts payable to Seller as of the acquisition date and to further amend the Seller Note to include the remaining $1,403 accounts payable due from Allure to Seller. The Seller Note thereby increased from $900 per the Stock Purchase Agreement to $2,303 at the opening balance sheet. That debt is represented by our issuance to the Seller of a promissory note accruing interest at 3.5% per annum. The promissory note required us to make quarterly payments of interest through February 19, 2020, on which date the promissory note matured and all remaining amounts owing thereunder were due. See Note 10 Commitments and Contingencies in the consolidated financial statements for further discussion of this note, which is now past due.