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Accrued Liabilities
 12 Months Ended
Dec. 31, 2024
Accrued Liabilities, Current [Abstract]  
Accrued Liabilities

Note 9. Accrued Liabilities

Accrued liabilities were comprised of the following (in thousands):

 

 

As of December 31,

 

 

 

2024

 

 

2023

 

Payroll-related

 

$

3,041

 

 

$

3,826

 

Property, plant, and equipment

 

 

89

 

 

 

—

 

Deferred revenue

 

 

30

 

 

 

16

 

Insurance premiums and accrued interest

 

 

56

 

 

 

409

 

Loss contingency accrual

 

 

373

 

 

 

300

 

Other

 

 

952

 

 

 

1,028

 

Total current accrued liabilities

 

$

4,541

 

 

$

5,579

 

On July 8, 2024, the Company entered into a financing agreement with First Insurance Funding for the financing of the Company’s Director and Officers (D&O) liability insurance and related policies. Under the terms of the financing agreement, the Company will pay a total of $0.6 million in premiums, taxes and fees, plus interest at an annual percentage rate of 8.49% in seven monthly separate installment payments commencing on July 25, 2024. During the year ended December 31, 2024, the Company made a down payment on the policy of $0.2 million to the insurer and six monthly installments for an aggregate of $0.3 million to First Insurance Funding. As of December 31, 2024, the Company owed $0.1 million for insurance premiums and accrued interest.