XML 69 R55.htm IDEA: XBRL DOCUMENT v3.23.1
DEBT - Narrative (Details)
3 Months Ended
Feb. 20, 2023
USD ($)
$ / shares
Feb. 06, 2023
USD ($)
Mar. 31, 2023
USD ($)
$ / shares
Mar. 31, 2022
USD ($)
Mar. 28, 2023
USD ($)
transformer
installment
shares
Dec. 31, 2022
$ / shares
Dec. 30, 2022
$ / shares
Oct. 27, 2022
USD ($)
May 15, 2022
shares
Extinguishment of Debt [Line Items]                  
Preferred stock, par value (in USD per share) | $ / shares $ 0.0001   $ 0.0001     $ 0.0001      
Loss on debt extinguishment     $ 28,960,947 $ 0          
Warrants issued during period (in shares) | shares                 6,318,000
Bruce - Merrilees Electric Co.                  
Extinguishment of Debt [Line Items]                  
Payable eliminated         $ 11,400,000        
Number of transformers released | transformer         10        
Number of transformers cancelled | transformer         90        
Series C Convertible Preferred Stock                  
Extinguishment of Debt [Line Items]                  
Preferred stock, par value (in USD per share) | $ / shares             $ 0.0001    
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025. | Loans payable                  
Extinguishment of Debt [Line Items]                  
Debt face amount     $ 58,149,411            
Period of pause on triggered monthly debt repayments   5 months              
Monthly prepayments, average daily cash percentage in excess of triggering amount   50.00%              
Monthly prepayments, triggering daily cash balance amount (in excess)   $ 7,500,000              
Maximum leverage ratio   4.0              
Interest rate     10.00%            
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025. | Loans payable | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate                  
Extinguishment of Debt [Line Items]                  
Basis spread on variable rate   10.00%              
Reference rate   3.00%              
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025. | Loans payable | Fed Funds Effective Rate Overnight Index Swap Rate                  
Extinguishment of Debt [Line Items]                  
Basis spread on variable rate   0.50%              
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025. | Loans payable | Term Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Debt Instrument, Basis Spread On Variable Rate, One                  
Extinguishment of Debt [Line Items]                  
Basis spread on variable rate   1.00%              
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025. | Loans payable | Term Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Debt Instrument, Basis Spread On Variable Rate, Two                  
Extinguishment of Debt [Line Items]                  
Basis spread on variable rate   9.00%              
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025. | Loans payable | Until March 31, 2024                  
Extinguishment of Debt [Line Items]                  
Minimum liquidity requirement   $ 2,500,000              
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025. | Loans payable | During The Period April 1, 2024 Through December 31, 2024                  
Extinguishment of Debt [Line Items]                  
Minimum liquidity requirement   5,000,000              
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025. | Loans payable | From And After January 1, 2025                  
Extinguishment of Debt [Line Items]                  
Minimum liquidity requirement   $ 7,500,000              
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025. | Secured Debt | Loans payable                  
Extinguishment of Debt [Line Items]                  
Debt face amount               $ 35,100,000  
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025. | Line of Credit | Loans payable                  
Extinguishment of Debt [Line Items]                  
Debt face amount               $ 23,000,000  
Amended And Restated 10% Notes | Loans payable                  
Extinguishment of Debt [Line Items]                  
Interest rate             10.00%    
Debt extinuished, paid-in-kind $ 16,900,000                
$3,500,000 Promissory Note, with interest at 7.50%, due October 2025. | Loans payable                  
Extinguishment of Debt [Line Items]                  
Debt face amount     $ 3,500,000   $ 3,500,000        
Interest rate     7.50%            
Warrants issued during period (in shares) | shares         3,000,000        
Principal amount due, subject to contingencies         $ 500,000        
Principal amount due, subject to contingencies, number of installments | installment         4        
Principal installment amount due, subject to contingencies         $ 125,000