XML 55 R45.htm IDEA: XBRL DOCUMENT v3.22.2
Debt - Schedule of Debt (With Unrelated Parties) (Parenthetical) (Details) - USD ($)
1 Months Ended 3 Months Ended
Feb. 11, 2019
Jan. 23, 2019
Sep. 30, 2020
Oct. 31, 2019
Feb. 28, 2019
Nov. 30, 2018
Aug. 31, 2018
Aug. 31, 2017
Dec. 31, 2014
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2022
Dec. 31, 2020
Oct. 20, 2020
Oct. 19, 2020
Sep. 30, 2019
Debt Instrument [Line Items]                                
Unpaid principal balance                   $ 20,167,000     $ 12,727,000      
Warrants, exercise price                         $ 0.01 $ 0.01 $ 2.50  
Warrants issued                           5,072,000 7,925,000  
Debt instrument, conversion feature description                   The Secured Convertible Notes are convertible into shares (the “Note Shares”) of the Company’s common stock at a conversion rate of $2.50 per share of common stock at the Holder’s option: 1) at any time after the first anniversary of the date of issuance or 2) at any time within 90 days after a “triggering event,” including a sale, reorganization, merger, or similar transaction where the Company is not the surviving entity. The Secured Convertible Notes are also subject to mandatory conversion at any time after the first anniversary of the date of issuance if the average volume of shares of common stock traded on the Nasdaq Capital Market, NYSE American Market or a higher tier of either exchange is 100,000 or more for the 10 trading days prior to the applicable date. Such a mandatory conversion has not occurred.            
Gain (loss) on extinguishment of debt                   $ 534,000 $ (10,086,000)          
Fair value of the warrants                         $ 800,000      
Advance From Supplier Acquired From Thunder Ridge [Member]                                
Debt Instrument [Line Items]                                
Principal amount               $ 1,000,000.0                
Interest rate               8.50%                
Maturity date, month and year               2022-07                
Note payable, description                   Thunder Ridge signed an agreement with a supplier on August 31, 2017, in which $1.0 million was advanced to Thunder Ridge during 2017. The advance bears interest at 8.5%, is collateralized by substantially all of Thunder Ridge’s assets, is guaranteed by a member of management, and has a July 2022 maturity date.            
Note Payable Issued During November Two Thousand And Eighteen [Member]                                
Debt Instrument [Line Items]                                
Principal amount           $ 300,000                    
Interest rate           3.00%                    
Maturity date, month and year           2022-10                    
Note payable, description                   The note calls for quarterly principal payments on January, April, July, and October 1st of $18,750 plus the related accrued interest.            
Notes payable, quarterly principal payment           $ 18,750                    
Bridge Loan [Member]                                
Debt Instrument [Line Items]                                
Secured convertible debt                       $ 250,000        
Common Stock [Member]                                
Debt Instrument [Line Items]                                
Warrants issued                               4,375,000
Note Purchase Agreements and Releases [Member]                                
Debt Instrument [Line Items]                                
Principal amount                   $ 3,600,000            
Warrants, exercise price                   $ 0.01            
Notes payable in cash                   $ 500,000            
Main Street Loan [Member]                                
Debt Instrument [Line Items]                                
Principal amount                   $ 17,100,000            
Interest rate                   3.00%            
Quarterly interest payments date                   Dec. 14, 2022            
Maturity date                   Dec. 14, 2025            
Payment terms, description                   Beginning December 14, 2022, the Borrowers must make quarterly interest payments, and the Borrowers must make payments equal to 15% of the outstanding principal balance plus capitalized interest on each of December 14, 2023 and December 14, 2024. The entire outstanding principal balance, together with all accrued and unpaid interest, is due and payable in full on December 14, 2025.            
Unpaid interest as percentage on outstanding principal balance                   15.00%            
Unpaid principal balance                   $ 17,100,000            
Capitalized interest                   100,000            
Unamortized debt discount                   300,000     300,000      
Unamortized debt issuance costs                   $ 1,100,000     $ 1,100,000      
Debt instrument, frequency of periodic payment                   quarterly            
PPP Loan [Member]                                
Debt Instrument [Line Items]                                
Principal amount                   $ 10,000,000.0            
Interest rate                   1.00%            
Maturity date                   Apr. 15, 2022            
Period for loan amount and accrued interest eligible for forgiveness                   56 days            
Note Payable [Member]                                
Debt Instrument [Line Items]                                
Principal amount                 $ 1,300,000              
Maturity date, month and year                 2024-03              
Note payable, description                   The $1.3 million note payable was issued December 31, 2014, with interest adjusted to the SBA LIBOR base rate, plus 2.35%. The note matures March 2024, is secured by substantially all of Titan’s business assets and is personally guaranteed by certain former members of Titan including a member of our board of directors and certain of his relatives, and beneficial owners of more than 5% of our undiluted shares of common stock. The note is a co-borrower arrangement between Titan and El Toro with the proceeds received by El Toro.            
Note Payable [Member] | Minimum [Member]                                
Debt Instrument [Line Items]                                
Percentage of common stock of guaranteed beneficial owners                 5.00%              
Note Payable [Member] | London Interbank Offered Rate (LIBOR) [Member]                                
Debt Instrument [Line Items]                                
Basis points added to LIBOR rate                 2.35%              
Secured Convertible Promissory Notes [Member]                                
Debt Instrument [Line Items]                                
Interest rate             9.00%                  
Warrants, exercise price                   $ 2.50            
Class of warrant or rights, exercisable term                   10 years            
Secured convertible promissory notes             $ 4,000,000.0     $ 4,000,000.0            
Paid debt issuance costs             $ 500,000                  
Debt instrument term             2 years                  
Conversion rate                   $ 2.50            
Liquidated damages                   1.00%            
Liquidated damages incurred                   $ 100,000 100,000          
Payments for liquidated damages                   $ 0 $ 100,000          
Warrant exercise period                   10 years            
Fair value of warrants                   $ 700,000            
Debt instrument, description                   As additional consideration for the Secured Convertible Notes, the Company issued warrants to the Holders to purchase 1,602,000 shares of common stock at an exercise price of $2.50 per share, exercisable for ten years from the date of issuance. The fair value of the warrants issued determined using the Black Scholes pricing model was $0.7 million, calculated with a ten-year term; 65% volatility; 2.89%, 2.85% or 3.00% discount rates and the assumption of no dividends.            
Secured Convertible Promissory Notes [Member] | Volatility [Member]                                
Debt Instrument [Line Items]                                
Warrants outstanding, measurement input                   65            
Secured Convertible Promissory Notes [Member] | Discount Rate [Member]                                
Debt Instrument [Line Items]                                
Warrants outstanding, measurement input                   2.89            
Secured Convertible Promissory Notes [Member] | Measurement Input Expected Dividend Payment [Member]                                
Debt Instrument [Line Items]                                
Warrants outstanding, measurement input                   0            
Secured Convertible Promissory Notes [Member] | Common Stock [Member]                                
Debt Instrument [Line Items]                                
Warrants issued                   1,602,000            
Secured Convertible Promissory Notes [Member] | Minimum [Member] | Discount Rate [Member]                                
Debt Instrument [Line Items]                                
Warrants outstanding, measurement input                   2.85            
Secured Convertible Promissory Notes [Member] | Maximum [Member] | Discount Rate [Member]                                
Debt Instrument [Line Items]                                
Warrants outstanding, measurement input                   3.00            
Secured Convertible Promissory Notes [Member] | Note Purchase Agreements and Releases [Member]                                
Debt Instrument [Line Items]                                
Principal amount                   $ 300,000            
Warrants, exercise price                   $ 0.01            
Fair value of warrants                   $ 100,000            
Principle and interest payments                   100,000            
Gain (loss) on extinguishment of debt                   200,000            
Notes payable in cash                   $ 100,000            
Secured Convertible Promissory Notes [Member] | Note Purchase Agreements and Releases [Member] | Maximum [Member]                                
Debt Instrument [Line Items]                                
Class of warrant to purchase number of common stock                   106,343            
Notes Payable To Bank Acquired From Sheehy [Member]                                
Debt Instrument [Line Items]                                
Maturity start date month and year                   2020-09            
Maturity end date month and year                   2021-12            
Proceeds from sale of certain assets     $ 700,000                          
Gain or loss on sale of assets                   $ 0            
Notes Payable To Bank Acquired From Sheehy [Member] | Minimum [Member]                                
Debt Instrument [Line Items]                                
Interest rate                   4.35%            
Notes Payable To Bank Acquired From Sheehy [Member] | Maximum [Member]                                
Debt Instrument [Line Items]                                
Interest rate                   4.375%            
Notes Payable, Other Payables [Member]                                
Debt Instrument [Line Items]                                
Principal amount $ 800,000 $ 3,800,000                            
Interest rate 10.20% 10.10%                            
Maturity date Feb. 11, 2023 Feb. 23, 2024                            
Maturity date, month and year       2024-10 2023-03                      
Interest rate       8.94% 4.50%                      
Notes Payable, Other Payables [Member] | JB Lease [Member]                                
Debt Instrument [Line Items]                                
Maturity start date month and year                   2019-09            
Maturity end date month and year                   2024-08            
Notes Payable, Other Payables [Member] | Minimum [Member] | JB Lease [Member]                                
Debt Instrument [Line Items]                                
Interest rate                   3.90%            
Notes Payable, Other Payables [Member] | Maximum [Member] | JB Lease [Member]                                
Debt Instrument [Line Items]                                
Interest rate                   5.10%            
Frinkle Equipment Notes [Member] | Minimum [Member]                                
Debt Instrument [Line Items]                                
Interest rate                   5.20%            
Maturity date, month and year                   2020-05            
Frinkle Equipment Notes [Member] | Maximum [Member]                                
Debt Instrument [Line Items]                                
Interest rate                   11.80%            
Maturity date, month and year                   2025-09