Notes Payable, Related Parties, Net (Tables)

12 Months Ended

Dec. 31, 2023

Related Party Transaction [Line Items]

Schedule of Senior Secured Convertible Note

The Company arrived at the fair value of the Notes liability as shown below:

Senior Secured Convertible Notes:	December 31, 2023				Modification date				Issuance date
Fair value (In thousands)	$		5,544		$		4,296			$		1,803
Face value principal payment (In thousands)	$		4,600		$		4,600			$		3,333
Face value at premium (In thousands)	$		5,750		$		5,750			$		4,166
Conversion discount			10	%			10	%				10	%
Maturity date		October 11, 2024				October 11, 2024					October 11, 2023
Interest rate			7.00	%			7.00	%				6.00	%
Default interest rate			18.00	%			18.00	%				18.00	%
Discount rate			23.50	%			25.60	%				92.50	%
Valuation technique		PWERM				PWERM					PWERM

Senior Secured Convertible Notes [Member]

Related Party Transaction [Line Items]

Summary of Estimated Probability and Estimated Date of Notes Payable

The Company elected to account for the Senior Secured Convertible Notes using the fair value option and ascribed the following probabilities to four possible scenarios:

	December 31, 2023				December 31, 2022
Scenario description	Estimated probability			Estimated date	Estimated probability			Estimated date
Qualified Financing		25.0	%	October 11, 2024		25.0	%	June 1, 2024
Non-qualified Financing		35.0	%	October 11, 2024		35.0	%	October 1, 2023
Held to Maturity		25.0	%	January 15, 2025		15.0	%	December 31, 2024
Default/Dissolution		15.0	%	October 11, 2024		25.0	%	June 1, 2024
Total		100.0	%			100.0	%

Schedule of Senior Secured Convertible Note

Based on these estimates, the Company arrived at the fair values of the Notes liability as shown below:

Senior Secured Convertible Notes, related party:		December 31, 2023			December 31, 2022
Fair value (In thousands)	$		11,001	$		10,008
Face value principal payment (In thousands)	$		12,133	$		11,133
Face value at premium (In thousands)	$		15,166	$		13,916
Interest rate (weighted average)		10.10%			10.00%
Default interest rate		18.00%			18.00%
Discount rate		43.50%			45.50%
Valuation technique		PWERM			PWERM

Summary of Notes Payable at Fair Value

Notes payable, related parties, net on December 31, 2023 and December 31, 2022, were comprised of the following (in thousands):

Senior Secured Convertible Notes, Related Party	Total
Fair value at December 31, 2021	$	—
Issuance of senior secured convertible notes, related party		11,365
Change in fair value of senior secured convertible notes, related party		(1,357	)
Fair value at December 31, 2022		10,008
Issuance of senior secured convertible notes, related party		1,000
Change in fair value of senior secured convertible notes, related party		(7	)
Balance at December 31, 2023	$	11,001