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Liquidated Damages Payable
6 Months Ended
Jun. 30, 2025
Liquidated Damages Payable [Abstract]  
Liquidated Damages Payable Liquidated Damages Payable
Liquidated damages were recorded as a result of the following: (i) certain registration rights agreements that provide for damages if the Company does not register certain shares of the Company’s common stock within the requisite time frame (the “Registration Rights Damages”); and (ii) certain securities purchase agreements that provide for damages if the Company does not maintain its periodic filings with the SEC within the requisite time frame (the “Public Information Failure Damages”).
Obligations with respect to the liquidated damages payable are summarized as follows:
As of June 30, 2025
Registration Rights DamagesPublic Information Failure DamagesAccrued InterestBalance
MDB Common Stock to be Issued (1)$15 $— $— $15 
Series H convertible preferred stock566 574 863 2,003 
Convertible debentures (2)— 144 98 242 
Series J convertible preferred stock (2)152 152 183 487 
Series K convertible preferred stock (2)166 70 398 634 
Total$899 $940 $1,542 $3,381 
As of December 31, 2024
Registration Rights DamagesPublic Information Failure DamagesAccrued InterestBalance
MDB Common Stock to be Issued (1)
$15 $— $— $15 
Series H convertible preferred stock566 574 796 1,936 
Convertible debentures (2)
— 144 89 233 
Series J convertible preferred stock (2)
152 152 165 469 
Series K convertible preferred stock (2)
166 70 341 577 
Total$899 $940 $1,391 $3,230 
(1)Consists of shares of common stock issuable to MDB Capital Group, LLC (“MDB”).
(2)Represents previously issued and converted debt or equity securities.
As of June 30, 2025 and December 31, 2024, the short-term liquidated damages payable were $3,381 and $3,230, respectively. The Company will continue to accrue interest on the liquidated damages balance at 1.0% per month based on the balance outstanding as of June 30, 2025, or $3,381, until paid. There is no scheduled date when the unpaid liquidated
damages become due. The Series K convertible preferred stock remains subject to Registration Rights Damages and Public Information Failure Damages, which will accrue in certain circumstances, limited to 6% of the aggregate amount invested.
During the six months ended June 30, 2025 and 2024, the Company recorded accrued interest on liquidated damages of $76 and $76, respectively. During the six months ended June 30, 2025 and 2024, the Company recorded accrued interest on liquidated damages of $151 and $152, respectively.