Notes Payable and Convertible Notes (Tables)

3 Months Ended

Mar. 31, 2023

The Company’s notes payable and convertible notes are as follows:


Terms	March 31, 2023		December 31, 2022
Secured promissory notes dated May 10, 2019, as subsequently amended, with a related party drawn in two tranches: (i) $35.0 million bearing interest at 12.75% and (ii) $10.0 million bearing interest at 14.75%, which mature on May 10, 2024	$	50,129	$	49,807
Convertible promissory note dated October 6, 2021, which mature on October 6, 2024 and bear interest at a rate of 6% per annum	15,122		14,843

Unsecured convertible promissory note at $0.50 per share due December 18, 2023 at 12% per annum through May 2023 and 14% per annum through December 2023	3,721		3,554
Promissory note issued for the acquisition of NECC due January 7, 2023 at 10% per annum	—		519
Promissory note issued for the acquisition of Island due October 25, 2026 at 6% per annum	10,579		10,431
Secured promissory note due February 28, 2023 at 1.5% monthly interest for three months and 2% monthly interest for three months (1)	2,254		3,230
Unsecured promissory note due September 30, 2023, monthly interest payments at 12% per annum	1,730		1,730

Various	43		51
Total Notes Payable and Convertible Notes	$	83,577	$	84,165

(1) The Company is in default of the secured promissory note as of March 31, 2023. Management is renegotiating terms of the promissory note as of the date of these consolidated financial statements.