Promissory Notes (Tables)

6 Months Ended

Jun. 30, 2022

Notes Payable, Current [Abstract]

Schedule of of outstanding convertible notes

The following table summarizes the outstanding promissory notes as of June 30, 2022 and December 31, 2021 (dollars in thousands):

		June 30, 2022				December 31, 2021
	Interest Rate	Principal Amount		Carrying Amount*		Principal Amount		Carrying Amount*
Convertible Debenture (a)	4%	$	33,333	$	33,437	$	57,500	$	57,809
Small Business Association Paycheck Protection Program (c)	1%	265		265		311		312
Energica lending arrangements	0.05% - 4.5%			5,042		—		—
Total		$	33,598	38,744		$	57,811	58,121
Less: Current portion				(37,028)				(58,121)
Long-term Note, less current portion				$	1,716			$	—

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*Carrying amount includes the accrued interest and approximates the fair value because of the short term nature of these instruments.

During the year ended December 31, 2021, the Company issued several convertible debt instruments to YA II PN, the terms of which are summarized in the following table (principal and gross proceeds in thousands):

	YA II PN Note 1			YA II PN Note 2			YA II PN Note 3			YA II PN Note 4
Principal	$	37,500		$	37,500		$	65,000		$	80,000
Gross proceeds	$	37,500		$	37,500		$	65,000		$	80,000
Interest rate	4.0		%	4.0		%	4.0		%	4.0		%
Conversion price	$	2.00		$	3.31		$	4.12		$	4.95
Maturity dates	July 4, 2021			July 15, 2021			July 28, 2021			August 8, 2021