Paycheck Protection Program Loan	9 Months Ended
Sep. 30, 2020
Paycheck Protection Program Loan [Abstract]
Paycheck Protection Program Loan	Note 4 - Paycheck Protection Program Loan We entered into the PPP Loan agreement with our Bank, which was approved and funded on April 24, 2020, pursuant to the Paycheck Protection Program under the Coronavirus Aid, Relief and Economic Security Act (the "CARES Act"). The PPP Loan matures on April 24, 2022 and bears interest at a rate of 1.0% per annum. Monthly amortized principal and interest payments are due for any portion of the loan balance that is not forgiven and are automatically deferred for ten months after the last day of our covered period on August 9, 2021. The PPP Loan contains events of default and other provisions customary for a loan of this type. The Payroll Protection Program provides that (1) the use of PPP Loan amount shall be limited to certain qualifying expenses, (2) 100% of the principal amount of the loan is guaranteed by the Small Business Administration ("SBA") and (3) an amount up to the full principal and any accrued interest may qualify for loan forgiveness in accordance with the terms of CARES Act. We are not yet able to determine the amount that might be forgiven, but we have accumulated forgivable expenses beyond our original loan amount and are currently assessing any potential limiting factors as a part of the process to file with the Bank. We are ultimately subject to the SBA’s review process for forgiveness. To the extent the loan amount is not forgiven under the PPP, we are obligated to make equal monthly payments of principal and interest, beginning after review of forgiveness by the Bank. The SBA provides for certain customary events of default, including if the Company (i) fails to do anything required by the Note and other Loan Documents; (ii) does not disclose, or anyone acting on its behalf does not disclose, any material fact to the Bank or the SBA; (iii) makes, or anyone acting on its behalf makes, a materially false or misleading representation to lender or the SBA; (iv) reorganizes, merges, consolidates or otherwise changes ownership or business structure without the Bank’s prior written consent; (v) takes certain prohibited actions after the Bank makes a determination that the PPP Loan is not entitled to full forgiveness. Upon default the Bank may require immediate payment of all amounts owing under the PPP Loan or file suit and obtain judgment. As of September 30, 2020, we have classified the $10 million of outstanding PPP Loan and accrued interest of $44 thousand as debt in our consolidated balance sheets. We classified $0.4 million as current and $9.6 million as noncurrent in our consolidated balance sheets. We recorded $26 thousand and $44 thousand of interest expense during the three and nine months ended September 30, 2020, respectively. As of September 30, 2020, the Company believes it was in full compliance with all requirements in order to apply for forgiveness under the PPP Loan. We may apply for forgiveness any time on or before the maturity date of the loan.

Note 4 - Paycheck Protection Program Loan

We entered into the PPP Loan agreement with our Bank, which was approved and funded on April 24, 2020, pursuant to the Paycheck Protection Program under the Coronavirus Aid, Relief and Economic Security Act (the "CARES Act"). The PPP Loan matures on April 24, 2022 and bears interest at a rate of 1.0% per annum. Monthly amortized principal and interest payments are due for any portion of the loan balance that is not forgiven and are automatically deferred for ten months after the last day of our covered period on August 9, 2021.

The PPP Loan contains events of default and other provisions customary for a loan of this type. The Payroll Protection Program provides that (1) the use of PPP Loan amount shall be limited to certain qualifying expenses, (2) 100% of the principal amount of the loan is guaranteed by the Small Business Administration ("SBA") and (3) an amount up to the full principal and any accrued interest may qualify for loan forgiveness in accordance with the terms of CARES Act. We are not yet able to determine the amount that might be forgiven, but we have accumulated forgivable expenses beyond our original loan amount and are currently assessing any potential limiting factors as a part of the process to file with the Bank. We are ultimately subject to the SBA’s review process for forgiveness. To the extent the loan amount is not forgiven under the PPP, we are obligated to make equal monthly payments of principal and interest, beginning after review of forgiveness by the Bank.

The SBA provides for certain customary events of default, including if the Company (i) fails to do anything required by the Note and other Loan Documents; (ii) does not disclose, or anyone acting on its behalf does not disclose, any material fact to the Bank or the SBA; (iii) makes, or anyone acting on its behalf makes, a materially false or misleading representation to lender or the SBA; (iv) reorganizes, merges, consolidates or otherwise changes ownership or business structure without the Bank’s prior written consent; (v) takes certain prohibited actions after the Bank makes a determination that the PPP Loan is not entitled to full forgiveness. Upon default the Bank may require immediate payment of all amounts owing under the PPP Loan or file suit and obtain judgment.

As of September 30, 2020, we have classified the $10 million of outstanding PPP Loan and accrued interest of $44 thousand as debt in our consolidated balance sheets. We classified $0.4 million as current and $9.6 million as noncurrent in our consolidated balance sheets. We recorded $26 thousand and $44 thousand of interest expense during the three and nine months ended September 30, 2020, respectively.

As of September 30, 2020, the Company believes it was in full compliance with all requirements in order to apply for forgiveness under the PPP Loan. We may apply for forgiveness any time on or before the maturity date of the loan.