XML 57 R40.htm IDEA: XBRL DOCUMENT v3.24.3
LONG-TERM DEBT (Details Narrative) - USD ($)
3 Months Ended 9 Months Ended
Sep. 26, 2023
Mar. 21, 2023
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Line of Credit Facility [Line Items]            
Amortization of debt discount premium         $ 301,331 $ 233,495
Principal payment to be paid in 2025     $ 8,400,000   8,400,000  
Principal payment to be paid in 2026     10,600,000   $ 10,600,000  
Minimum [Member]            
Line of Credit Facility [Line Items]            
Prepayment penalty percentage         1.00%  
Maximum [Member]            
Line of Credit Facility [Line Items]            
Prepayment penalty percentage         3.00%  
Avenue Facility [Member]            
Line of Credit Facility [Line Items]            
Credit facility   $ 40,000,000 2,000,000   $ 2,000,000  
Line of credit $ 5,000,000 15,000,000        
Line of credit   20,000,000        
Warrant to purchase stock   $ 1,200,000        
Exercise price   $ 1.24        
Fair value of warrants   $ 873,000        
Debt conversion amount   $ 2,000,000        
Conversion price per share   $ 1.49        
Term loans remaining         1,000,000  
Debt instrument description   The Company incurred other fees associated with the Avenue Facility including: (1) a $300 thousand financing fee, (2) a $200 thousand upfront commitment fee of 1% of the total $20 million in committed capital and (3) $27 thousand in legal fees. The total debt discount recorded of $1.4 million will be amortized over a forty-two-month period.        
Amortization of debt discount premium     100,000 $ 80,000 301,000 234
Proceeds from Issuance of Debt         15,000,000.0  
Proceeds from issuance costs         12,300,000  
Repayments of Long-Term Debt         $ 2,000,000  
Line of Credit Facility, Expiration Date   Oct. 01, 2026        
Debt Instrument, Interest Rate Terms         interest is based on the greater of: (1) the Prime Rate (as defined in the Supplement) plus 4.75% and (2) 12.5%. As of September 30, 2024, the interest rate was 13.25%. As of September 30, 2024, interest only payments were extended until May 2025.  
Debt instrument, face amount     19,000,000   $ 19,000,000  
Interest expense, debt     $ 681,000 594,000 $ 2,000,000.0 1,300,000
Avenue Facility [Member] | Series B Preferred Stock [Member]            
Line of Credit Facility [Line Items]            
Liquidation value       $ 5,000,000   $ 5,000,000