Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2022 | Aug. 09, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2022 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q2 | |
Document Transition Report | false | |
Entity File Number | 000-52985 | |
Entity Registrant Name | SANUWAVE Health, Inc. | |
Entity Central Index Key | 0001417663 | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 20-1176000 | |
Entity Address, Address Line One | 3360 Martin Farm Road | |
Entity Address, Address Line Two | Suite 100 | |
Entity Address, City or Town | Suwanee | |
Entity Address, State or Province | GA | |
Entity Address, Postal Zip Code | 30024 | |
City Area Code | 770 | |
Local Phone Number | 419-7525 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | No | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 548,737,651 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Current Assets: | ||
Cash | $ 1,484 | $ 619 |
Accounts receivable, net of allowance for doubtful accounts of $0.8 million, respectively | 1,749 | 2,415 |
Inventory | 925 | 1,040 |
Prepaid expenses and other current assets | 1,181 | 326 |
Total Current Assets | 5,339 | 4,400 |
Property, Equipment and Other, net | 535 | 1,118 |
Other Intangible Assets, net | 5,489 | 5,841 |
Goodwill | 7,260 | 7,260 |
Total Assets | 18,623 | 18,619 |
Current Liabilities: | ||
Senior secured promissory note payable, in default | 12,334 | 11,586 |
Convertible promissory notes payable, in default | 6,523 | 11,601 |
Convertible promissory notes, related parties, in default | 1,596 | 1,596 |
Short-term loans | 1,484 | 0 |
Advances on future cash receipts | 398 | 446 |
Accounts payable | 7,083 | 7,644 |
Accrued expenses | 5,900 | 4,394 |
Accrued employee compensation | 4,264 | 4,247 |
Due under factoring agreement | 1,792 | 1,737 |
Warrant liability | 5,295 | 9,614 |
Current portion of SBA loans | 272 | 158 |
Accrued interest | 3,600 | 2,521 |
Accrued interest, related parties | 402 | 289 |
Current portion of lease liabilities | 185 | 268 |
Current portion of contract liabilities | 64 | 48 |
Other | 107 | 114 |
Total Current Liabilities | 51,299 | 56,263 |
Non-current Liabilities | ||
SBA loans | 761 | 875 |
Lease liabilities | 40 | 118 |
Contract liabilities | 295 | 293 |
Deferred tax liability | 28 | 28 |
Total Non-current Liabilities | 1,124 | 1,314 |
Total Liabilities | 52,423 | 57,577 |
Commitments and Contingencies (Footnote 11) | ||
STOCKHOLDERS' DEFICIT | ||
Preferred Stock, par value $0.001, 5,000,000 shares authorized; 6,175, 293, 90 and 8 shares designated Series A, Series B, Series C and Series D, respectively; no shares issued and outstanding at June 30, 2022 and December 31, 2021 | 0 | 0 |
Common Stock, par value $0.001, 800,000,000 shares authorized; 529,293,205 and 481,619,621 issued and outstanding at June 30, 2022 December 31, 2021, respectively | 529 | 482 |
Additional Paid-in Capital | 151,409 | 144,582 |
Accumulated Deficit | (185,671) | (183,949) |
Accumulated Other Comprehensive Loss | (67) | (73) |
Total Stockholders' Deficit | (33,800) | (38,958) |
Total Liabilities and Stockholders' Deficit | $ 18,623 | $ 18,619 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Current Assets: | ||
Accounts receivable, allowance for doubtful accounts | $ 0.8 | $ 0.8 |
STOCKHOLDERS' DEFICIT | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 800,000,000 | 800,000,000 |
Common stock, shares issued (in shares) | 529,293,205 | 481,619,621 |
Common stock, shares outstanding (in shares) | 529,293,205 | 481,619,621 |
Series A Convertible Preferred Stock [Member] | ||
STOCKHOLDERS' DEFICIT | ||
Preferred stock, shares authorized (in shares) | 6,175 | 6,175 |
Series B Convertible Preferred Stock [Member] | ||
STOCKHOLDERS' DEFICIT | ||
Preferred stock, shares authorized (in shares) | 293 | 293 |
Series C Convertible Preferred Stock [Member] | ||
STOCKHOLDERS' DEFICIT | ||
Preferred stock, shares authorized (in shares) | 90 | 90 |
Series D Convertible Preferred Stock [Member] | ||
STOCKHOLDERS' DEFICIT | ||
Preferred stock, shares authorized (in shares) | 8 | 8 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Revenues: | ||||
Total Revenue | $ 3,882 | $ 2,909 | $ 7,077 | $ 5,025 |
Cost of Revenues | 1,096 | 1,048 | 1,986 | 2,103 |
Gross Margin | 2,786 | 1,861 | 5,091 | 2,922 |
Operating Expenses: | ||||
General and administrative | 2,937 | 2,923 | 5,078 | 6,045 |
Selling and marketing | 1,672 | 2,520 | 3,387 | 4,300 |
Research and development | 171 | 272 | 337 | 626 |
Gain on sale of property and equipment, net | (136) | 0 | (690) | 0 |
Depreciation and amortization | 210 | 192 | 386 | 391 |
Total Operating Expenses | 4,854 | 5,907 | 8,498 | 11,362 |
Operating Loss | (2,068) | (4,046) | (3,407) | (8,440) |
Other Income (Expense): | ||||
Interest expense | (2,826) | (1,437) | (5,903) | (2,559) |
Interest expense, related party | (56) | (48) | (112) | (95) |
Change in fair value of derivative liabilities | 7,861 | (591) | 11,343 | 44 |
Loss on issuance of debt | 0 | (2,484) | (3,434) | (2,484) |
Loss on extinguishment of debt | (211) | 0 | (211) | 0 |
Gain / (loss) on foreign currency exchange | 2 | (3) | 2 | 4 |
Other Income (Expense), net | 4,770 | (4,563) | 1,685 | (5,090) |
Net Loss before Income Taxes | 2,702 | (8,609) | (1,722) | (13,530) |
Provision for Income Taxes | 0 | 6 | 0 | 22 |
Net Income (loss) | 2,702 | (8,615) | (1,722) | (13,552) |
Other Comprehensive Income (Loss) | ||||
Foreign currency translation adjustments | 0 | (3) | 0 | (11) |
Total Comprehensive Income (Loss) | $ 2,702 | $ (8,618) | $ (1,722) | $ (13,563) |
Gain (loss) per Share: | ||||
Basic (in dollars per share) | $ 0.01 | $ (0.02) | $ 0 | $ (0.03) |
Diluted (in dollars per share) | $ 0 | $ (0.02) | $ 0 | $ (0.03) |
Weighted average shares outstanding, basic and diluted | ||||
Basic (in shares) | 538,560,051 | 518,310,781 | 532,589,825 | 518,400,008 |
Diluted (in shares) | 871,984,091 | 518,310,781 | 532,589,825 | 518,400,008 |
Accessory and Parts Revenue [Member] | ||||
Revenues: | ||||
Total Revenue | $ 2,663 | $ 2,008 | $ 4,854 | $ 3,579 |
Product [Member] | ||||
Revenues: | ||||
Total Revenue | 862 | 514 | 1,507 | 767 |
Rental Income [Member] | ||||
Revenues: | ||||
Total Revenue | 344 | 276 | 688 | 530 |
License Fees and Other [Member] | ||||
Revenues: | ||||
Total Revenue | $ 13 | $ 111 | $ 28 | $ 149 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($) $ in Thousands | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Loss [Member] | Total |
Beginning balance at Dec. 31, 2020 | $ 0 | $ 471 | $ 142,563 | $ (156,690) | $ (62) | $ (13,718) |
Beginning balance (in shares) at Dec. 31, 2020 | 0 | 470,694,621 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Cashless warrant exercise | $ 0 | $ 11 | (11) | 0 | 0 | 0 |
Cashless warrant exercise (in shares) | 0 | 10,925,000 | ||||
Reclassification of warrant liability due to cashless warrant exercise | $ 0 | $ 0 | 2,030 | 0 | 0 | 2,030 |
Reclassification of warrant liability due to cashless warrant exercise (in shares) | 0 | 0 | ||||
Net income (loss) | $ 0 | $ 0 | 0 | (13,552) | 0 | (13,552) |
Foreign currency translation adjustment | 0 | 0 | 0 | 0 | (12) | (12) |
Ending balance at Jun. 30, 2021 | $ 0 | $ 482 | 144,582 | (170,242) | (74) | (25,252) |
Ending balance (in shares) at Jun. 30, 2021 | 0 | 481,619,621 | ||||
Beginning balance at Mar. 31, 2021 | $ 0 | $ 482 | 144,582 | (161,627) | (70) | (16,633) |
Beginning balance (in shares) at Mar. 31, 2021 | 0 | 481,619,621 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | $ 0 | $ 0 | 0 | (8,615) | 0 | (8,615) |
Foreign currency translation adjustment | 0 | 0 | 0 | 0 | (4) | (4) |
Ending balance at Jun. 30, 2021 | $ 0 | $ 482 | 144,582 | (170,242) | (74) | (25,252) |
Ending balance (in shares) at Jun. 30, 2021 | 0 | 481,619,621 | ||||
Beginning balance at Dec. 31, 2021 | $ 0 | $ 482 | 144,582 | (183,949) | (73) | (38,958) |
Beginning balance (in shares) at Dec. 31, 2021 | 0 | 481,619,621 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Cashless warrant exercise | $ 0 | $ 14 | 2,152 | 0 | 0 | 2,166 |
Cashless warrant exercise (in shares) | 14,000,000 | |||||
Warrant exercise | $ 0 | $ 1 | 99 | 0 | 0 | 100 |
Warrant exercise (in shares) | 0 | 909,091 | ||||
Shares issued in conjunction with Note Payable | $ 0 | $ 20 | 3,700 | 0 | 0 | 3,720 |
Shares issued in conjunction with Note Payable (in shares) | 0 | 20,666,993 | ||||
Shares issued for services | $ 12 | 876 | 0 | 0 | 888 | |
Shares issued for services (in shares) | 12,097,500 | |||||
Net income (loss) | $ 0 | $ 0 | 0 | (1,722) | 0 | (1,722) |
Foreign currency translation adjustment | 0 | 0 | 0 | 0 | 6 | 6 |
Ending balance at Jun. 30, 2022 | $ 0 | $ 529 | 151,409 | (185,671) | (67) | (33,800) |
Ending balance (in shares) at Jun. 30, 2022 | 0 | 529,293,205 | ||||
Beginning balance at Mar. 31, 2022 | $ 0 | $ 517 | 150,533 | (188,373) | (73) | (37,396) |
Beginning balance (in shares) at Mar. 31, 2022 | 0 | 517,195,705 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Shares issued for services | $ 0 | $ 12 | 876 | 888 | ||
Shares issued for services (in shares) | 0 | 12,097,500 | ||||
Net income (loss) | $ 0 | $ 0 | 0 | 2,702 | 0 | 2,702 |
Foreign currency translation adjustment | 0 | 0 | 0 | 0 | 6 | 6 |
Ending balance at Jun. 30, 2022 | $ 0 | $ 529 | $ 151,409 | $ (185,671) | $ (67) | $ (33,800) |
Ending balance (in shares) at Jun. 30, 2022 | 0 | 529,293,205 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash Flows - Operating Activities: | ||
Net income (loss) | $ (1,722) | $ (13,552) |
Adjustments to reconcile net loss to net cash used by operating activities | ||
Amortization of intangibles | 352 | 352 |
Depreciation | 94 | 198 |
Bad debt expense | 52 | 240 |
Income tax expense | 0 | 22 |
Shares issued for services | 888 | 0 |
Loss on extinguishment of debt | 211 | 0 |
Gain on sale of property and equipment, net | (541) | 0 |
Change in fair value of derivative liabilities | (11,343) | (44) |
Loss on issuance of debt | 3,434 | 2,484 |
Amortization of debt issuance costs and original issue discount | 1,304 | 719 |
Accrued interest | 1,078 | 390 |
Interest payable, related parties | 112 | 95 |
Changes in operating assets and liabilities | ||
Accounts receivable - trade | 733 | 218 |
Inventory | 115 | 521 |
Prepaid expenses | (855) | (191) |
Other assets | 47 | (83) |
Accounts payable | (562) | 1,475 |
Accrued expenses | 1,407 | 1,350 |
Accrued employee compensation | 103 | 553 |
Contract liabilities | (108) | 4 |
Net Cash Used by Operating Activities | (5,201) | (5,249) |
Cash Flows - Investing Activities | ||
Proceeds from sale of property and equipment | 948 | 0 |
Purchase of property and equipment | 0 | (277) |
Net Cash Flows Used in Investing Activities | 948 | (277) |
Cash Flows - Financing Activities | ||
Proceeds from senior promissory notes | 2,940 | 1,263 |
Proceeds from short term notes | 2,130 | 1,033 |
Proceeds from factoring | 55 | 1,038 |
Proceeds from warrant exercises | 100 | 0 |
Payments of principal on finance leases | (121) | (94) |
Proceeds from related party advances | 0 | 125 |
Net Cash Flows Provided by Financing Activities | 5,104 | 3,365 |
Effect of Exchange Rates on Cash | 14 | (12) |
Net Change in Cash During Period | 865 | (2,173) |
Cash at Beginning of Period | 619 | 2,437 |
Cash at End of Period | 1,484 | 264 |
Supplemental Information: | ||
Cash paid for interest | 2,045 | 1,434 |
Non-cash Investing and Financing Activities: | ||
Reclassification of warrant liability due to cashless warrant exercise | 2,167 | 2,030 |
Warrants issued in conjunction with senior secured promissory note payable | 2,654 | 0 |
Common shares issued in conjunction with senior secured promissory note payable | 3,720 | 0 |
Embedded conversion option with issuances of convertible debt | 0 | 2,740 |
Warrant issuance in conjunction with convertible debt | $ 0 | $ 758 |
Nature of the Business and Basi
Nature of the Business and Basis of Presentation | 6 Months Ended |
Jun. 30, 2022 | |
Nature of the Business and Basis of Presentation [Abstract] | |
Nature of the Business and Basis of Presentation | 1. Nature of the Business and Basis of Presentation SANUWAVE Health, Inc. and Subsidiaries (“SANUWAVE” or the “Company”) is focused on the research, development, and commercialization of its patented noninvasive and biological response activating medical systems for the repair and regeneration of skin, musculoskeletal tissue, and vascular structures. The Company’s lead regenerative product in the United States is the dermaPACE® device used for treating diabetic foot ulcers. Through the Company’s acquisition, on August 6, 2020, of the UltraMIST® assets from Celularity, Inc. (“Celularity”), SANUWAVE now combines two highly complementary and market-cleared energy transfer technologies and two human tissue biologic products, which creates a platform of scale with an end-to-end product offering in the advanced wound care market. Basis of Presentation – The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8-03 of Regulation S-X. Accordingly, these condensed consolidated financial statements do not include all the information and disclosures required by U.S. GAAP for comprehensive financial statements. Certain accounts in the prior period condensed consolidated financial statements have been reclassified to conform to the presentation of the current period condensed consolidated financial statements. These reclassifications had no effect on the previously reported operating results. The financial information as of June 30, 2022, and for the three and six months ended June 30 June 30 The condensed consolidated balance sheet at December 31, 2021 has been derived from the audited Consolidated Financial Statements at that date but does not include all of the information and disclosures required by U.S. GAAP for comprehensive financial statements. These financial statements should be read in conjunction with the Company’s December 31, 2021 Annual Report on Form 10-K filed with the SEC on May 13, 2022 (the “2021 Annual Report”). |
Going Concern
Going Concern | 6 Months Ended |
Jun. 30, 2022 | |
Going Concern [Abstract] | |
Going Concern | 2. Going Concern Our recurring losses from operations and dependency upon future issuances of equity or other financing to fund ongoing operations have raised substantial doubt as to our ability to continue as a going concern. We will be required to raise additional funds to finance our operations and remain a going concern; we may not be able to do so, and/or the terms of any financings may not be advantageous to us. The continuation of our business is dependent upon raising additional capital. We expect to devote substantial resources for the commercialization of the dermaPACE and will continue to research and develop the non-medical uses of the PACE technology, both of which will require additional capital resources. The operating losses and the events of default on the Company’s notes payable indicate substantial doubt about the Company’s ability to continue as a going concern for a period of at least twelve months from the filing of this Form 10-Q. The continuation of our business is dependent upon raising additional capital to fund operations. Management’s plans are to obtain additional capital in 2022 through investments by strategic partners for market opportunities, which may include strategic partnerships or licensing arrangements, or raise capital through the conversion of outstanding warrants, issuance of common or preferred stock, securities convertible into common stock, or secured or unsecured debt. These possibilities, to the extent available, may be on terms that result in significant dilution to our existing shareholders. In addition, there can be no assurances that our plans to obtain additional capital will be successful on the terms or timeline we expect, or at all. Although no assurances can be given, management believes that potential additional issuances of equity or other potential financing transactions as discussed above should provide the necessary funding for us. If these efforts are unsuccessful, we may be required to significantly curtail or discontinue operations or obtain funds through financing transactions with unfavorable terms. The accompanying consolidated financial statements have been prepared in conformity with U.S. GAAP, which contemplate continuation of the Company as a going concern and the realization of assets and satisfaction of liabilities in the normal course of business. The carrying amounts of assets and liabilities presented in the consolidated financial statements do not necessarily purport to represent realizable or settlement values. The consolidated financial statements do not include any adjustment that might result from the outcome of this uncertainty. Our consolidated financial statements do not include any adjustments relating to the recoverability of assets and classification of assets and liabilities that might be necessary should we be unable to continue as a going concern. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2022 | |
Summary of Significant Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 3. Summary of Significant Accounting Policies Significant accounting policies followed by the Company are summarized below and should be read in conjunction with those described in Note 3 to the Consolidated Financial Statements in our 2021 Annual Report. Estimates Significant estimates include the recording of allowances for doubtful accounts, the net realizable value of inventory, useful lives of long-lived assets, fair value of goodwill and other intangible assets, the determination of the valuation allowances for deferred taxes, estimated fair value of stock-based compensation, and the estimated fair value of financial instruments, including warrants and embedded conversion options. |
Income (Loss) per Share
Income (Loss) per Share | 6 Months Ended |
Jun. 30, 2022 | |
Income (Loss) per Share [Abstract] | |
Income (Loss) per Share | 4. Income (Loss) per Share The net income (loss) per share is calculated by dividing the net income (loss) attributable to common stockholders by the weighted average number of shares outstanding for the three and six months ended June 30, 2022, and 2021. In accordance with ASC Topic 260-10-45-13, Earnings Per Share Accordingly, warrants issued with a $0.01 per share exercise price, are included in weighted average shares outstanding as follows (shares in thousands): Three Months Ended Six Months Ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Weighted average shares outstanding Common shares 518,074 481,620 508,399 481,620 Common shares issuable assuming excercise of nominally priced warrants 20,486 36,691 24,191 36,780 Weighted average shares outstanding 538,560 518,311 532,590 518,400 Diluted net income (loss) per share would be computed by dividing the net income (loss) attributable to common stockholders by the weighted average number of shares of common stock and dilutive common stock equivalents outstanding. To the extent that securities are “anti-dilutive,” they are excluded from the calculation of diluted net loss per share. As a result of the net income for the three months ended June 30, 2022, all dilutive shares were included in the computation of diluted net income per share. Anti-dilutive equity securities consist of the following for the six months ended June 30, 2022 and 2021, respectively (in thousands): Six Months Ended June 30, 2022 June 30, 2021 Common stock options 22,046 31,760 Common stock purchase warrants 189,157 150,202 Convertible notes payable 122,271 74,155 333,474 256,117 |
Accrued Expenses
Accrued Expenses | 6 Months Ended |
Jun. 30, 2022 | |
Accrued Expenses [Abstract] | |
Accrued Expenses | 5. Accrued Expenses Accrued expenses consist of the following at June and December (in s): 2022 2021 Registration penalties $ 2,190 $ 1,950 License fees 893 893 Board of director's fees 996 507 Other 1,821 1,044 $ 5,900 $ 4,394 There was no activity in the warranty reserve during the months ended June |
Revenue
Revenue | 6 Months Ended |
Jun. 30, 2022 | |
Revenue [Abstract] | |
Revenue | 6. Revenue Disaggregation of Revenue - The disaggregation of revenue is based on geographical region. All revenue is recognized at the point in time when control is transferred to our clients. The following tables present revenue from contracts with customers for the three and six months ended June 30, 2022 and 2021 (in thousands): Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 United States International Total United States International Total Accessories and parts $ 2,636 $ 34 $ 2,670 $ 1,938 $ 70 $ 2,008 Product 863 - 863 470 44 514 License fees and other - 5 5 91 20 111 Topic 606 Revenue $ 3,499 $ 39 $ 3,538 $ 2,499 $ 134 $ 2,633 Rental income 344 - 344 276 - 276 Topic 842 Revenue $ 344 $ - $ 344 $ 276 $ - $ 276 Total Revenue $ 3,843 $ 39 $ 3,882 $ 2,775 $ 134 $ 2,909 Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 United States International Total United States International Total Accessories and parts $ 4,767 $ 30 $ 4,797 $ 3,373 $ 206 $ 3,579 Product 1,554 16 1,570 511 256 767 License fees and other 8 14 22 124 25 149 Topic 606 Revenue $ 6,329 $ 60 $ 6,389 $ 4,008 $ 487 $ 4,495 Rental income 688 - 688 530 - 530 Topic 842 Revenue $ 688 $ - $ 688 $ 530 $ - $ 530 Total Revenue $ 7,017 $ 60 $ 7,077 $ 4,538 $ 487 $ 5,025 Contract liabilities - As of June 30, 2022 and December 31, 2021 the Company has contract liabilities from contracts with customers as follows (in thousands): June 30, 2022 December 31, 2021 Service agreements $ 359 $ 137 Deposit on future equipment purchases - 204 Total contract liabilities 359 341 Less: current portion (64 ) (48 ) Non-current contract liabilities $ 295 $ 293 During the three months ended June 30, 2022 and 2021 the Company recognized revenue related to these contrat liabilities of $10 thousand and $8 thousand, respectively, that were included in the beginning contract liability balances for each of those periods. During the six months ended June 30, 2022 and 2021 the Company recognized revenue related to these contract liabilities of $18 thousand and $16 thousand, respectively, that were included in the beginning contract liability balances for each of those periods The following table summarizes the changes in contract liabilities during the and six months ended June (in s): Three Months Ended Six Months Ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Beginning balance $ 361 $ 187 $ 341 $ 69 New service agreement additions 8 35 36 36 Deposit on future equipment purchases - - - 125 Revenue recognized (10 ) (8 ) (18 ) (16 ) Total contract liabilities 359 214 359 214 Less current portion (64 ) (33 ) (64 ) (33 ) Non-current contract liabilities $ 295 $ 181 $ 295 $ 181 |
Concentration of Credit Risk an
Concentration of Credit Risk and Limited Suppliers | 6 Months Ended |
Jun. 30, 2022 | |
Concentration of Credit Risk and Limited Suppliers [Abstract] | |
Concentration of Credit Risk and Limited Suppliers | 7. Concentration of Credit Risk and Limited Suppliers Major customers are defined as customers whose accounts receivable, or sales individually consist of more than ten percent of total trade receivables or total sales, respectively. The percentage of accounts receivable from major customers of the Company for the periods indicated were as follows: June 30, 2022 December 31, 2021 Accounts Receivable: Customer A 14% 16% Customer B 13% n/a Customer C n/a 24% The Company currently purchases most of its product component materials from single suppliers and the loss of any of these suppliers could result in a disruption in our production. The of purchases from major vendors of the Company that exceeded of total purchases for the and six months ended June and were as follows: Three Months Ended Six Months Ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Purchases: Vendor A 17% 44% 18% 43% Vendor B n/a 38% n/a 21% |
Notes Payable
Notes Payable | 6 Months Ended |
Jun. 30, 2022 | |
Notes Payable [Abstract] | |
Notes Payable | 8. Notes payable The following tables summarize outstanding notes payable as of June and December (dollars in s): A s of 06 / / (dollars in s) Maturity Date Interest Rate Conversion Price Principal Remaining Debt Discount Remaining Embedded Conversion Option Carrying Value Senior secured promissory note payable, in default In default 20.50 % n/a $ 18,000 (5,666 ) - $ 12,334 Convertible promissory notes payable, in default: Total convertible promisory notes payable, in default In default 15.40 % $ 0.0538 6,445 (140 ) 218 6,523 Convertible promissory notes payable, related parties, in default: Total convertible promisory notes payable, related parties, in default In default 14.0 % $ 0.10 1,596 - - 1,596 SBA loan # February 20, 2026 1.00 % n/a 1,033 - - 1,033 Advances on future cash receipts In default n/a n/a 812 (414 ) - 398 Short-term bridge loan October 31, 2022 5.00 % n/a 1,559 (75 ) - 1,484 Total debt outstanding, including amounts in default 29,445 (6,295 ) 218 23,368 Less: current maturities, including notes in default (28,684 ) 6,295 (218 ) (22,607 ) Total long-term debt as of June $ 761 $ - $ - $ 761 As of 12 / / (dollars in s) Maturity Date Interest Rate Conversion Price Principal Remaining Debt Discount Remaining Embedded Conversion Option Carrying Value Senior secured promissory note payable, in default In default 20.25 % n/a $ 15,000 (3,414 ) - $ 11,586 Convertible promissory notes payable, in default: Total convertible promisory notes payable, in default In default 15.40 % $ 0.1071 6,445 (1,099 ) 6,255 11,601 Convertible promissory notes payable, related parties, in default: Total convertible promisory notes payable, related parties, in default In default 14.0 % $ 0.10 1,596 - - 1,596 SBA loan # February 20, 2026 1.00 % n/a 1,033 - - 1,033 Advances on future cash receipts March 11, 2022 n/a n/a 1,500 (1,054 ) - 446 Total debt outstanding, including amounts in default 25,574 (5,567 ) 6,255 26,262 Less: current maturities, including notes in default (24,699 ) 5,567 (6,255 ) (25,387 ) Total long-term debt as of December $ 875 $ - $ - $ 875 Senior secured promissory note payable, in default (“Senior Secured Note”) - On February the Company entered into a Note Extension with NH Expansion Credit Fund Holdings LP. The amount of the note was , with an interest rate of and matures on September 30, 2025 Because the combined fair value of the applicable warrants and common stock issued as part of this note exceeded the face value of the note, the additional amount beyond the face value is recorded as a loss on issuance of . Senior secured promissory note payable, in default (“Senior Secured Note-Third Amendment) – On June 30, 2022, the Company entered into the Third Amendment to the Note and Warrant Purchase and Security Agreement (the “Third NWPSA”), which amends that certain Second Amendment to the Note and Warrant Purchase and Security Agreement, dated as of February 25, 2022, (as amended, the “NWPSA”). The Third NWPSA provides for (i) the extension of the Agent’s and Holder’s forbearance of exercising their remedies arising from Existing Defaults (as defined in the NWPSA) to the earlier of (x) the occurrence of an Event of Default and (y) August 30, 2022, and (ii) the extension to file a registration statement with the Securities and Exchange Commission (“SEC”) to register the resale of the Advisor Shares (as defined in the NWPSA) no later than August 30, 2022. May 2022 Advance on Future Receipts Financing In conjunction with the 24-week agreement, the Company is obligated to remit to GCF a minimum of $59 thousand of receipts each week for the twenty-four weeks. The Company will begin making the required minimum weekly payments May 23, 2022, and is obligated to continue through October 31, 2022. Because the combined fair value of the applicable warrants issued as part of this note exceeded the original payoff value of the note, the additional amount beyond the face value is recorded as a loss on extinguishment of $211 thousand. On June 28, 2022, the Company entered into short-term loan from a group of investors in the amount of $1.5 million. The interest rate on this loan is 5% and the expiration date is October 31, 2022. Embedded Conversion Option Liability The fair value of Conversion Option liability was determined by using a binomial pricing model: At / / At / / Conversion Price (1) $ 0.05 $ 0.11 Interest Rate (annual) (2) 1.28 % 0.18 % Volatility (annual) (3) 125.00 % 289.65 % Time to Maturity (Years) 0.05 0.50 (1) Based on the terms provided in the warrant agreement to purchase common stock of the Company as of June and December (2) (3) |
Common Stock Purchase Warrants
Common Stock Purchase Warrants | 6 Months Ended |
Jun. 30, 2022 | |
Common Stock Purchase Warrants [Abstract] | |
Common Stock Purchase Warrants | 9. Common Stock Purchase Warrants A summary of the warrant activity as of June is as follows (dollars in s): Warrants Weighted Average Exercise Price per share Weighted Average Remaining Contractual Life (years) Outstanding at December 204,882,664 $ 0.20 2.54 Exercised (15,909,091 ) 0.01 Issued 21,874,302 0.18 Outstanding at June 210,847,875 $ 0.21 2.44 On January the Company issued 14,000,000 shares of its common stock to LGH upon the cashless exercise of of the LGH Warrants under the terms of the warrant agreement. After this cashless exercise, of LGH Warrants remain outstanding. On February the Company issued 16.1 warrants with an exercise price of and a -year term as part of the Amendment to Note and Warrant Purchase and Security Agreement with NH Expansion Fund. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | 10. Fair Value Measurements In accordance with ASC 820 (Fair Value Measurements and Disclosures), the Company uses various inputs to measure the outstanding warrants and certain embedded conversion features associated with a convertible debt on a recurring basis to determine the fair value of the liability. The following table classifies the Company’s liabilities measured at fair value on a recurring basis into the fair value hierarchy as of June 30, 2022 and December 31, 2021 (in thousands): Fair value measured at June 30, 2022 Fair value at June 30, 2022 Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Warrant liability $ 5,295 $ - $ - $ 5,295 Embedded conversion option 218 - - 218 Total fair value 5,513 - - 5,513 Fair value measured at December 31, 2021 Fair value at December 31, 2021 Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Warrant liability $ 9,614 - - 9,614 Embedded conversion option 6,255 - - 6,255 Total fair value 15,869 - - 15,869 There were no transfers between Level 1, 2 or 3 during the three and six months ended June 30, 2022 and 2021. The following table presents changes in Level 3 liabilities measured at fair value for the six months ended June 30, 2022. Both observable and unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category. Unrealized gains and losses associated with liabilities within the Level 3 category include changes in fair value that were attributable to both observable (e.g. changes in market interest rates) and unobservable (e.g., changes in unobservable long-dated volatilities) inputs (dollars in thousands): Warrant Liability Conversion Feature Total Balance at December 31, 2021 $ 9,614 $ 6,255 $ 15,869 Cashless exercise (2,167 ) - (2,167 ) Warrants issued 3,168 - 3,168 Change in fair value (5,320 ) (6,037 ) (11,357 ) Balance at June 30 2022 $ 5,295 $ 218 $ 5,513 A summary of the warrant liability activity for the six months ended June 30, 2022 is as follows: Warrants Outstanding Fair Value per Share Fair Value Balance at December 31, 2021 62,617,188 $ 0.15 $ 9,614,134 Warrants classified as liabilities (15,000,000 ) 0.14 (2,167,022 ) Warrants issued 21,874,302 0.14 3,168,581 Gain on remeasurement of warrant liability - (5,320,470 ) Balance at June 30 2022 69,491,490 $ 0.08 $ 5,295,223 Significant inputs related to the Company’s liability classified warrants are listed below. June 30, 2022 December 31, 2021 New Issuance at Issue Date Weighted average remaining life in years 5.21 4.67 6.89 Weighted average volatility 325 % 116 % 276 % Weighted average risk free interest rate 3.0 % 1.2 % 3.0 % Expected dividend yield 0.00 % 0.00 % 0.00 % |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2022 | |
Commitments and Contingencies [Abstract] | |
Commitments and Contingencies | 11. Commitments and Contingencies In the ordinary course of business, the Company from time to time becomes involved in various legal proceedings involving a variety of matters. The Company does not believe there are any pending legal proceedings that will have a material adverse effect on the Company’s business, consolidated financial position, results of operations, or cash flows. However, the outcome of such legal matters is inherently unpredictable and subject to significant uncertainties. The Companies expenses legal fees in the period in which they are occurred. Supplier disputes |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2022 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 12. Related Party Transactions Advance from Director June 2022 dermaPACE® Purchase – On June 30, 2022, the Company purchased unused dermaPACE® equipment and applicator inventory from PSWC for $265 thousand. As of June 30, 2022, there is $424 thousand in the condensed consolidated balance sheets related to this and other transactions of the same nature. Short-term loan – On June 28, 2022, the Company entered into a short-term loan with a group of investors (see Footnote 8 – Notes Payable). Of that investing group, $50 thousand was received by Ian Miller, also a member of the board of directors. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Events | 13. Subsequent Events SBA loan #2 – In June the Company submitted the loan forgiveness application for the SBA loan #2 and on July 8, 2022, the Company received confirmation that the loan forgiveness application has been approved. At June 30, 2022, the loan balance was $1.0 million Securities Purchase Agreement and Future Advance Convertible Promissory Notes On August 5, 2022, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”), with the purchasers identified on the signature pages thereto (the “Purchasers”) for the sale by the Company in a private placement (the “Private Placement”) of (i) the Company’s future advance convertible promissory notes in an aggregate principal amount of approximately $16.1 million (the “Notes”), consisting of approximately $12.2 million in newly raised capital and $3.8 million in rolled forward accrued expenses and fees, (ii) warrants to purchase an approximate additional 403 million shares of common stock of the Company with an exercise price of $0.067 per share (the “First Warrants”) and (iii) warrants to purchase an approximate additional 403 million shares of common stock of the Company with an exercise price of $0.04 per share (the “Second Warrants,” collectively with the First Warrants, the "Warrants"). The Notes will be convertible and the Warrants exercisable on the earlier to occur of (1) completion of a reverse stock split and (2) December 31, 2022. The exercise price of the Warrants is subject to adjustment, including if the Company issues or sells shares of common stock or Share Equivalents (as defined in the Warrants) for an effective consideration price less than the exercise price of the Warrants or if the Company lists its shares of common stock on the Nasdaq Capital Market and the average volume weighted average price of such common stock for the five In connection with Private Placement of these Notes, Kestrel Merchant Partners and WestPark Capital received cash fees and certain expenses. Payment of Leviston and Five Party notes On August 5, 2022 in exchange for all outstanding amounts owed and the retirement of the associated warrants under the Securities Purchase Agreement, dated April 20, 2021 with Leviston Resources LLC and the Securities Purchase Agreements with five other noteholders. The Company paid $3.9 million and issued 19.4 million shares of |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
Summary of Significant Accounting Policies [Abstract] | |
Estimates | Estimates Significant estimates include the recording of allowances for doubtful accounts, the net realizable value of inventory, useful lives of long-lived assets, fair value of goodwill and other intangible assets, the determination of the valuation allowances for deferred taxes, estimated fair value of stock-based compensation, and the estimated fair value of financial instruments, including warrants and embedded conversion options. |
Income (Loss) per Share (Tables
Income (Loss) per Share (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Income (Loss) per Share [Abstract] | |
Weighted Average Shares Outstanding | Accordingly, warrants issued with a $0.01 per share exercise price, are included in weighted average shares outstanding as follows (shares in thousands): Three Months Ended Six Months Ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Weighted average shares outstanding Common shares 518,074 481,620 508,399 481,620 Common shares issuable assuming excercise of nominally priced warrants 20,486 36,691 24,191 36,780 Weighted average shares outstanding 538,560 518,311 532,590 518,400 |
Anti-dilutive Equity Securities | Anti-dilutive equity securities consist of the following for the six months ended June 30, 2022 and 2021, respectively (in thousands): Six Months Ended June 30, 2022 June 30, 2021 Common stock options 22,046 31,760 Common stock purchase warrants 189,157 150,202 Convertible notes payable 122,271 74,155 333,474 256,117 |
Accrued Expenses (Tables)
Accrued Expenses (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Accrued Expenses [Abstract] | |
Accrued Expenses | Accrued expenses consist of the following at June and December (in s): 2022 2021 Registration penalties $ 2,190 $ 1,950 License fees 893 893 Board of director's fees 996 507 Other 1,821 1,044 $ 5,900 $ 4,394 |
Revenue (Tables)
Revenue (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Revenue [Abstract] | |
Disaggregation of Revenue | The disaggregation of revenue is based on geographical region. All revenue is recognized at the point in time when control is transferred to our clients. The following tables present revenue from contracts with customers for the three and six months ended June 30, 2022 and 2021 (in thousands): Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 United States International Total United States International Total Accessories and parts $ 2,636 $ 34 $ 2,670 $ 1,938 $ 70 $ 2,008 Product 863 - 863 470 44 514 License fees and other - 5 5 91 20 111 Topic 606 Revenue $ 3,499 $ 39 $ 3,538 $ 2,499 $ 134 $ 2,633 Rental income 344 - 344 276 - 276 Topic 842 Revenue $ 344 $ - $ 344 $ 276 $ - $ 276 Total Revenue $ 3,843 $ 39 $ 3,882 $ 2,775 $ 134 $ 2,909 Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 United States International Total United States International Total Accessories and parts $ 4,767 $ 30 $ 4,797 $ 3,373 $ 206 $ 3,579 Product 1,554 16 1,570 511 256 767 License fees and other 8 14 22 124 25 149 Topic 606 Revenue $ 6,329 $ 60 $ 6,389 $ 4,008 $ 487 $ 4,495 Rental income 688 - 688 530 - 530 Topic 842 Revenue $ 688 $ - $ 688 $ 530 $ - $ 530 Total Revenue $ 7,017 $ 60 $ 7,077 $ 4,538 $ 487 $ 5,025 |
Contract Liabilities | As of June 30, 2022 and December 31, 2021 the Company has contract liabilities from contracts with customers as follows (in thousands): June 30, 2022 December 31, 2021 Service agreements $ 359 $ 137 Deposit on future equipment purchases - 204 Total contract liabilities 359 341 Less: current portion (64 ) (48 ) Non-current contract liabilities $ 295 $ 293 The following table summarizes the changes in contract liabilities during the and six months ended June (in s): Three Months Ended Six Months Ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Beginning balance $ 361 $ 187 $ 341 $ 69 New service agreement additions 8 35 36 36 Deposit on future equipment purchases - - - 125 Revenue recognized (10 ) (8 ) (18 ) (16 ) Total contract liabilities 359 214 359 214 Less current portion (64 ) (33 ) (64 ) (33 ) Non-current contract liabilities $ 295 $ 181 $ 295 $ 181 |
Concentration of Credit Risk _2
Concentration of Credit Risk and Limited Suppliers (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Concentration of Credit Risk and Limited Suppliers [Abstract] | |
Concentration of Credit Risk and Limited Suppliers | Major customers are defined as customers whose accounts receivable, or sales individually consist of more than ten percent of total trade receivables or total sales, respectively. The percentage of accounts receivable from major customers of the Company for the periods indicated were as follows: June 30, 2022 December 31, 2021 Accounts Receivable: Customer A 14% 16% Customer B 13% n/a Customer C n/a 24% The Company currently purchases most of its product component materials from single suppliers and the loss of any of these suppliers could result in a disruption in our production. The of purchases from major vendors of the Company that exceeded of total purchases for the and six months ended June and were as follows: Three Months Ended Six Months Ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Purchases: Vendor A 17% 44% 18% 43% Vendor B n/a 38% n/a 21% |
Notes Payable (Tables)
Notes Payable (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Payable [Abstract] | |
Outstanding Notes Payable | The following tables summarize outstanding notes payable as of June and December (dollars in s): A s of 06 / / (dollars in s) Maturity Date Interest Rate Conversion Price Principal Remaining Debt Discount Remaining Embedded Conversion Option Carrying Value Senior secured promissory note payable, in default In default 20.50 % n/a $ 18,000 (5,666 ) - $ 12,334 Convertible promissory notes payable, in default: Total convertible promisory notes payable, in default In default 15.40 % $ 0.0538 6,445 (140 ) 218 6,523 Convertible promissory notes payable, related parties, in default: Total convertible promisory notes payable, related parties, in default In default 14.0 % $ 0.10 1,596 - - 1,596 SBA loan # February 20, 2026 1.00 % n/a 1,033 - - 1,033 Advances on future cash receipts In default n/a n/a 812 (414 ) - 398 Short-term bridge loan October 31, 2022 5.00 % n/a 1,559 (75 ) - 1,484 Total debt outstanding, including amounts in default 29,445 (6,295 ) 218 23,368 Less: current maturities, including notes in default (28,684 ) 6,295 (218 ) (22,607 ) Total long-term debt as of June $ 761 $ - $ - $ 761 As of 12 / / (dollars in s) Maturity Date Interest Rate Conversion Price Principal Remaining Debt Discount Remaining Embedded Conversion Option Carrying Value Senior secured promissory note payable, in default In default 20.25 % n/a $ 15,000 (3,414 ) - $ 11,586 Convertible promissory notes payable, in default: Total convertible promisory notes payable, in default In default 15.40 % $ 0.1071 6,445 (1,099 ) 6,255 11,601 Convertible promissory notes payable, related parties, in default: Total convertible promisory notes payable, related parties, in default In default 14.0 % $ 0.10 1,596 - - 1,596 SBA loan # February 20, 2026 1.00 % n/a 1,033 - - 1,033 Advances on future cash receipts March 11, 2022 n/a n/a 1,500 (1,054 ) - 446 Total debt outstanding, including amounts in default 25,574 (5,567 ) 6,255 26,262 Less: current maturities, including notes in default (24,699 ) 5,567 (6,255 ) (25,387 ) Total long-term debt as of December $ 875 $ - $ - $ 875 |
Fair Value of Conversion Option liability | The fair value of Conversion Option liability was determined by using a binomial pricing model: At / / At / / Conversion Price (1) $ 0.05 $ 0.11 Interest Rate (annual) (2) 1.28 % 0.18 % Volatility (annual) (3) 125.00 % 289.65 % Time to Maturity (Years) 0.05 0.50 (1) Based on the terms provided in the warrant agreement to purchase common stock of the Company as of June and December (2) (3) |
Common Stock Purchase Warrants
Common Stock Purchase Warrants (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Common Stock Purchase Warrants [Abstract] | |
Warrant Activity | A summary of the warrant activity as of June is as follows (dollars in s): Warrants Weighted Average Exercise Price per share Weighted Average Remaining Contractual Life (years) Outstanding at December 204,882,664 $ 0.20 2.54 Exercised (15,909,091 ) 0.01 Issued 21,874,302 0.18 Outstanding at June 210,847,875 $ 0.21 2.44 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Measurements [Abstract] | |
Liabilities Measured at Fair Value on Recurring Basis | The following table classifies the Company’s liabilities measured at fair value on a recurring basis into the fair value hierarchy as of June 30, 2022 and December 31, 2021 (in thousands): Fair value measured at June 30, 2022 Fair value at June 30, 2022 Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Warrant liability $ 5,295 $ - $ - $ 5,295 Embedded conversion option 218 - - 218 Total fair value 5,513 - - 5,513 Fair value measured at December 31, 2021 Fair value at December 31, 2021 Quoted prices in active markets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Warrant liability $ 9,614 - - 9,614 Embedded conversion option 6,255 - - 6,255 Total fair value 15,869 - - 15,869 |
Warrants Outstanding and Fair Values | The following table presents changes in Level 3 liabilities measured at fair value for the six months ended June 30, 2022. Both observable and unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category. Unrealized gains and losses associated with liabilities within the Level 3 category include changes in fair value that were attributable to both observable (e.g. changes in market interest rates) and unobservable (e.g., changes in unobservable long-dated volatilities) inputs (dollars in thousands): Warrant Liability Conversion Feature Total Balance at December 31, 2021 $ 9,614 $ 6,255 $ 15,869 Cashless exercise (2,167 ) - (2,167 ) Warrants issued 3,168 - 3,168 Change in fair value (5,320 ) (6,037 ) (11,357 ) Balance at June 30 2022 $ 5,295 $ 218 $ 5,513 A summary of the warrant liability activity for the six months ended June 30, 2022 is as follows: Warrants Outstanding Fair Value per Share Fair Value Balance at December 31, 2021 62,617,188 $ 0.15 $ 9,614,134 Warrants classified as liabilities (15,000,000 ) 0.14 (2,167,022 ) Warrants issued 21,874,302 0.14 3,168,581 Gain on remeasurement of warrant liability - (5,320,470 ) Balance at June 30 2022 69,491,490 $ 0.08 $ 5,295,223 |
Fair Value of Warrant Liabilities Using Black-Scholes Model | Significant inputs related to the Company’s liability classified warrants are listed below. June 30, 2022 December 31, 2021 New Issuance at Issue Date Weighted average remaining life in years 5.21 4.67 6.89 Weighted average volatility 325 % 116 % 276 % Weighted average risk free interest rate 3.0 % 1.2 % 3.0 % Expected dividend yield 0.00 % 0.00 % 0.00 % |
Nature of the Business and Ba_2
Nature of the Business and Basis of Presentation (Details) | Aug. 06, 2020 Product |
Nature of the Business and Basis of Presentation [Abstract] | |
Number of energy transfer technology products | 2 |
Number of human tissues biological products | 2 |
Income (Loss) per Share, Weight
Income (Loss) per Share, Weighted Average Shares Outstanding (Details) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Weighted Average Shares Outstanding [Abstract] | ||||
Weighted average shares outstanding basic (in shares) | 538,560,051 | 518,310,781 | 532,589,825 | 518,400,008 |
Warrant exercise price (in dollars per share) | $ 0.01 | |||
Common Shares [Member] | ||||
Weighted Average Shares Outstanding [Abstract] | ||||
Weighted average shares outstanding basic (in shares) | 518,074,000 | 481,620,000 | 508,399,000 | 481,620,000 |
Common Shares Issuable Assuming Exercise of Nominally Priced Warrants [Member] | ||||
Weighted Average Shares Outstanding [Abstract] | ||||
Weighted average shares outstanding basic (in shares) | 20,486,000 | 36,691,000 | 24,191,000 | 36,780,000 |
Income (Loss) per Share, Anti D
Income (Loss) per Share, Anti Dilutive Equity Securities (Details) - shares shares in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Anti-dilutive Securities [Abstract] | ||
Anti-dilutive equity securities (in shares) | 333,474 | 256,117 |
Common Stock Options [Member] | ||
Anti-dilutive Securities [Abstract] | ||
Anti-dilutive equity securities (in shares) | 22,046 | 31,760 |
Common Stock Purchase Warrants [Member] | ||
Anti-dilutive Securities [Abstract] | ||
Anti-dilutive equity securities (in shares) | 189,157 | 150,202 |
Convertible Notes Payable [Member] | ||
Anti-dilutive Securities [Abstract] | ||
Anti-dilutive equity securities (in shares) | 122,271 | 74,155 |
Accrued Expenses (Details)
Accrued Expenses (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
Accrued Expense [Abstract] | ||
Registration penalties | $ 2,190 | $ 1,950 |
License fees | 893 | 893 |
Board of director's fees | 996 | 507 |
Other | 1,821 | 1,044 |
Total accrued expenses | 5,900 | $ 4,394 |
Warranty reserve accrual | $ 0 |
Revenue, Disaggregation of Reve
Revenue, Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Disaggregation of Revenue [Abstract] | ||||
Revenue | $ 3,538 | $ 2,633 | $ 6,389 | $ 4,495 |
Rental income | 344 | 276 | 688 | 530 |
Total Revenues | 3,882 | 2,909 | 7,077 | 5,025 |
Accessories and Parts [Member] | ||||
Disaggregation of Revenue [Abstract] | ||||
Revenue | 2,670 | 2,008 | 4,797 | 3,579 |
Product [Member] | ||||
Disaggregation of Revenue [Abstract] | ||||
Revenue | 863 | 514 | 1,570 | 767 |
Total Revenues | 862 | 514 | 1,507 | 767 |
License Fees and Other [Member] | ||||
Disaggregation of Revenue [Abstract] | ||||
Revenue | 5 | 111 | 22 | 149 |
United States [Member] | ||||
Disaggregation of Revenue [Abstract] | ||||
Revenue | 3,499 | 2,499 | 6,329 | 4,008 |
Rental income | 344 | 276 | 688 | 530 |
Total Revenues | 3,843 | 2,775 | 7,017 | 4,538 |
United States [Member] | Accessories and Parts [Member] | ||||
Disaggregation of Revenue [Abstract] | ||||
Revenue | 2,636 | 1,938 | 4,767 | 3,373 |
United States [Member] | Product [Member] | ||||
Disaggregation of Revenue [Abstract] | ||||
Revenue | 863 | 470 | 1,554 | 511 |
United States [Member] | License Fees and Other [Member] | ||||
Disaggregation of Revenue [Abstract] | ||||
Revenue | 0 | 91 | 8 | 124 |
International [Member] | ||||
Disaggregation of Revenue [Abstract] | ||||
Revenue | 39 | 134 | 60 | 487 |
Rental income | 0 | 0 | 0 | 0 |
Total Revenues | 39 | 134 | 60 | 487 |
International [Member] | Accessories and Parts [Member] | ||||
Disaggregation of Revenue [Abstract] | ||||
Revenue | 34 | 70 | 30 | 206 |
International [Member] | Product [Member] | ||||
Disaggregation of Revenue [Abstract] | ||||
Revenue | 0 | 44 | 16 | 256 |
International [Member] | License Fees and Other [Member] | ||||
Disaggregation of Revenue [Abstract] | ||||
Revenue | $ 5 | $ 20 | $ 14 | $ 25 |
Revenue, Contract Liabilities (
Revenue, Contract Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Contract liabilities [Abstract] | |||||
Beginning balance | $ 361 | $ 187 | $ 341 | $ 69 | |
New service agreement additions | 8 | 35 | 36 | 36 | |
Deposit on future equipment purchases | 0 | 0 | 0 | 125 | |
Revenue recognized | (10) | (8) | (18) | (16) | |
Total contract liabilities | 359 | 214 | 359 | 214 | |
Less: current portion | (64) | (33) | (64) | (33) | $ (48) |
Non-current contract liabilities | 295 | 181 | 295 | 181 | $ 293 |
Revenue related to contract liabilities | (10) | $ (8) | (18) | $ (16) | |
Service Agreements [Member] | |||||
Contract liabilities [Abstract] | |||||
Beginning balance | 137 | ||||
Total contract liabilities | 359 | 359 | |||
Deposit on Future Equipment Purchases [Member] | |||||
Contract liabilities [Abstract] | |||||
Beginning balance | 204 | ||||
Total contract liabilities | $ 0 | $ 0 |
Concentration of Credit Risk _3
Concentration of Credit Risk and Limited Suppliers (Details) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer A [Member] | |||||
Concentration of Credit Risk and Limited Suppliers [Abstract] | |||||
Concentration risk, percentage | 14% | 16% | |||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer B [Member] | |||||
Concentration of Credit Risk and Limited Suppliers [Abstract] | |||||
Concentration risk, percentage | 13% | ||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer C [Member] | |||||
Concentration of Credit Risk and Limited Suppliers [Abstract] | |||||
Concentration risk, percentage | 24% | ||||
Purchases [Member] | Supplier Concentration Risk [Member] | Vendor A [Member] | |||||
Concentration of Credit Risk and Limited Suppliers [Abstract] | |||||
Concentration risk, percentage | 17% | 44% | 18% | 43% | |
Purchases [Member] | Supplier Concentration Risk [Member] | Vendor B [Member] | |||||
Concentration of Credit Risk and Limited Suppliers [Abstract] | |||||
Concentration risk, percentage | 38% | 21% |
Notes Payable, Outstanding Note
Notes Payable, Outstanding Notes Payable (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Senior Secured Promissory Notes Payable [Abstract] | ||
Long-term debt gross | $ 29,445 | $ 25,574 |
Long-term debt gross, current | (28,684) | (24,699) |
Long-term debt gross, noncurrent | 761 | 875 |
Remaining debt discount | (6,295) | (5,567) |
Senior secured promissory note payable, in default | 12,334 | 11,586 |
Remaining debt discount, current | 6,295 | 5,567 |
Remaining debt discount, noncurrent | 0 | 0 |
Remaining embedded conversion option | 218 | 6,255 |
Remaining embedded conversion option, current | (218) | (6,255) |
Remaining embedded conversion option, noncurrent | 0 | 0 |
Convertible promissory note payable, in default | 6,523 | 11,601 |
Advances on future cash receipts | 398 | 446 |
Short-term bridge loan | 1,484 | 0 |
Debt, Long-term and Short-term, Combined Amount [Abstract] | ||
Long-term debt net | 23,368 | 26,262 |
Long-term debt net, current | (22,607) | (25,387) |
Long-term debt net, noncurrent | $ 761 | $ 875 |
Convertible Notes Payable [Member] | ||
Senior Secured Promissory Notes Payable [Abstract] | ||
Maturity date | In default | In default |
Interest rate | 14% | 14% |
Conversion price (in dollars per share) | $ 0.10 | $ 0.10 |
Principal amount | $ 1,596 | $ 1,596 |
Remaining debt discount | 0 | 0 |
Remaining embedded conversion option | 0 | 0 |
Convertible promissory notes payable, related parties, in default | $ 1,596 | $ 1,596 |
Short-Term Bridge Loan [Member] | ||
Senior Secured Promissory Notes Payable [Abstract] | ||
Maturity date | Oct. 31, 2022 | |
Interest rate | 5% | |
Principal amount | $ 1,559 | |
Remaining debt discount | (75) | |
Remaining embedded conversion option | 0 | |
Short-term bridge loan | $ 1,484 | |
SBA Loan #2 [Member] | ||
Senior Secured Promissory Notes Payable [Abstract] | ||
Maturity date | Feb. 20, 2026 | Feb. 20, 2026 |
Interest rate | 1% | 1% |
Principal amount | $ 1,033 | $ 1,033 |
Remaining debt discount | 0 | 0 |
Remaining embedded conversion option | 0 | 0 |
SBA loans | $ 1,033 | $ 1,033 |
Advances on Future Cash Receipts [Member] | ||
Senior Secured Promissory Notes Payable [Abstract] | ||
Maturity date | In default | |
Maturity date | Mar. 11, 2022 | |
Principal amount | $ 812 | $ 1,500 |
Remaining debt discount | (414) | (1,054) |
Remaining embedded conversion option | 0 | 0 |
Advances on future cash receipts | $ 398 | $ 446 |
Senior Secured Note [Member] | ||
Senior Secured Promissory Notes Payable [Abstract] | ||
Maturity date | In default | In default |
Interest rate | 20.50% | 20.25% |
Principal amount | $ 18,000 | $ 15,000 |
Remaining debt discount | (5,666) | (3,414) |
Senior secured promissory note payable, in default | 12,334 | 11,586 |
Remaining embedded conversion option | $ 0 | $ 0 |
Convertible Debt [Member] | ||
Senior Secured Promissory Notes Payable [Abstract] | ||
Maturity date | In default | In default |
Interest rate | 15.40% | 15.40% |
Conversion price (in dollars per share) | $ 0.0538 | $ 0.1071 |
Principal amount | $ 6,445 | $ 6,445 |
Remaining debt discount | (140) | (1,099) |
Remaining embedded conversion option | 218 | 6,255 |
Convertible promissory note payable, in default | $ 6,523 | $ 11,601 |
Notes Payable, Senior Secured P
Notes Payable, Senior Secured Promissory Note Payable, in Default (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
May 19, 2022 USD ($) wk | Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Feb. 25, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Senior Secured Promissory Notes Payable [Abstract] | |||||||
Loss on extinguishment of debt | $ 211 | $ 0 | $ 211 | $ 0 | |||
Short-term loans | 1,484 | 1,484 | $ 0 | ||||
May 2022 Advances on Future Receipts Financing [Member] | |||||||
Senior Secured Promissory Notes Payable [Abstract] | |||||||
Balance paid | $ 400 | ||||||
Cash proceeds | 545 | ||||||
Sale of future receipts | $ 1,000 | ||||||
Non-recourse agreement term | wk | 24 | ||||||
Minimum amount of receipts, payment | $ 59 | ||||||
Receipts of remaining term | wk | 24 | ||||||
Loss on extinguishment of debt | 211 | ||||||
Short-Term Bridge Loan [Member] | |||||||
Senior Secured Promissory Notes Payable [Abstract] | |||||||
Principal amount | $ 1,559 | $ 1,559 | |||||
Interest rate | 5% | 5% | |||||
Maturity date | Oct. 31, 2022 | ||||||
Short-term loans | $ 1,484 | $ 1,484 | |||||
Senior Secured Note [Member] | |||||||
Senior Secured Promissory Notes Payable [Abstract] | |||||||
Principal amount | $ 18,000 | $ 18,000 | $ 15,000 | ||||
Interest rate | 20.50% | 20.50% | 20.25% | ||||
Senior Secured Note [Member] | NH Expansion Credit Fund Holdings LP [Member] | |||||||
Senior Secured Promissory Notes Payable [Abstract] | |||||||
Principal amount | $ 3,000 | ||||||
Interest rate | 20.50% | ||||||
Maturity date | Sep. 30, 2025 | ||||||
Loss on issuance | $ 3,400 |
Notes Payable, Embedded Convers
Notes Payable, Embedded Conversion Option Liability (Details) - Binomial Pricing Model [Member] | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2022 $ / shares | Dec. 31, 2021 $ / shares | ||
Measurement Input, Conversion Price [Member] | |||
Embedded Conversion Option Liability [Abstract] | |||
Conversion Price (in dollars per share) | [1] | $ 0.05 | $ 0.11 |
Measurement Input, Interest Rate (annual) [Member] | |||
Embedded Conversion Option Liability [Abstract] | |||
Measurement input | [2] | 0.0128 | 0.0018 |
Measurement Input, Volatility (annual) [Member] | |||
Embedded Conversion Option Liability [Abstract] | |||
Measurement input | [3] | 1.2500 | 2.8965 |
Measurement Input, Time to Maturity (Years) [Member] | |||
Embedded Conversion Option Liability [Abstract] | |||
Time to Maturity (Years) | 18 days | 6 months | |
[1]Based on the terms provided in the warrant agreement to purchase common stock of the Company as of June 30, 2022 and December 31, 2021.[2]Interest rate for U.S. Treasury Bonds, as of each presented period ending date, as published by the U.S. Federal Reserve.[3]Based on the historical daily volatility of the Company as of each presented period ending date. |
Common Stock Purchase Warrant_2
Common Stock Purchase Warrants (Details) - $ / shares | 6 Months Ended | 12 Months Ended | ||
Feb. 28, 2022 | Jan. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | |
Warrants [Abstract] | ||||
Outstanding, beginning (in shares) | 204,882,664 | |||
Exercised (in shares) | (15,909,091) | |||
Issued (in shares) | 21,874,302 | |||
Outstanding, ending (in shares) | 210,847,875 | 204,882,664 | ||
Weighted Average Exercise Price per share [Abstract] | ||||
Outstanding, beginning (in dollars per share) | $ 0.20 | |||
Exercised (in dollars per share) | 0.01 | |||
Issued (in dollars per share) | 0.18 | |||
Outstanding, ending (in dollars per share) | $ 0.21 | $ 0.20 | ||
Weighted Average Remaining Contractual Life (Years) [Abstract] | ||||
Weighted Average Remaining Contractual Life (years) | 2 years 5 months 8 days | 2 years 6 months 14 days | ||
Issued (in shares) | 21,874,302 | |||
NH Expansion Fund [Member] | ||||
Weighted Average Exercise Price per share [Abstract] | ||||
Outstanding, ending (in dollars per share) | $ 0.18 | |||
Weighted Average Remaining Contractual Life (Years) [Abstract] | ||||
Issued (in shares) | 16,100,000 | |||
Warrants term Period | 8 years 7 months 6 days | |||
LGH Warrants [Member] | ||||
Warrants [Abstract] | ||||
Exercised (in shares) | (15,000,000) | |||
Outstanding, ending (in shares) | 8,600,000 | |||
Weighted Average Remaining Contractual Life (Years) [Abstract] | ||||
Issued (in shares) | 14,000,000 |
Fair Value Measurements, Liabil
Fair Value Measurements, Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net [Abstract] | |||||
Transfer to level 3 | $ 0 | $ 0 | $ 0 | $ 0 | |
Transfer from level 3 | 0 | $ 0 | 0 | $ 0 | |
Recurring [Member] | |||||
Financial Liabilities Fair Value Disclosure [Abstract] | |||||
Liabilities at fair value | 5,513 | 5,513 | $ 15,869 | ||
Recurring [Member] | Warrant Liability [Member] | |||||
Financial Liabilities Fair Value Disclosure [Abstract] | |||||
Liabilities at fair value | 5,295 | 5,295 | 9,614 | ||
Recurring [Member] | Embedded Conversion Option [Member] | |||||
Financial Liabilities Fair Value Disclosure [Abstract] | |||||
Liabilities at fair value | 218 | 218 | 6,255 | ||
Recurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | |||||
Financial Liabilities Fair Value Disclosure [Abstract] | |||||
Liabilities at fair value | 0 | 0 | 0 | ||
Recurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | Warrant Liability [Member] | |||||
Financial Liabilities Fair Value Disclosure [Abstract] | |||||
Liabilities at fair value | 0 | 0 | 0 | ||
Recurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | Embedded Conversion Option [Member] | |||||
Financial Liabilities Fair Value Disclosure [Abstract] | |||||
Liabilities at fair value | 0 | 0 | 0 | ||
Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||||
Financial Liabilities Fair Value Disclosure [Abstract] | |||||
Liabilities at fair value | 0 | 0 | 0 | ||
Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Warrant Liability [Member] | |||||
Financial Liabilities Fair Value Disclosure [Abstract] | |||||
Liabilities at fair value | 0 | 0 | 0 | ||
Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Embedded Conversion Option [Member] | |||||
Financial Liabilities Fair Value Disclosure [Abstract] | |||||
Liabilities at fair value | 0 | 0 | 0 | ||
Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||||
Financial Liabilities Fair Value Disclosure [Abstract] | |||||
Liabilities at fair value | 5,513 | 5,513 | 15,869 | ||
Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Warrant Liability [Member] | |||||
Financial Liabilities Fair Value Disclosure [Abstract] | |||||
Liabilities at fair value | 5,295 | 5,295 | 9,614 | ||
Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Embedded Conversion Option [Member] | |||||
Financial Liabilities Fair Value Disclosure [Abstract] | |||||
Liabilities at fair value | $ 218 | $ 218 | $ 6,255 |
Fair Value Measurements, Warran
Fair Value Measurements, Warrants Fair Value, Outstanding and Valuation Model (Details) $ / shares in Units, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 USD ($) $ / shares shares | Feb. 28, 2022 | Dec. 31, 2021 USD ($) $ / shares shares | |
Fair Value, Warrant Liability [Abstract] | |||
Warrant Liability, Fair Value | $ 5,295,223 | $ 9,614,134 | |
Warrants issued | 3,168,581 | ||
Gain on remeasurement of warrant liability | $ (5,320,470) | ||
Warrant Outstanding and Fair Value [Abstract] | |||
Warrants outstanding (in shares) | shares | 69,491,490 | 62,617,188 | |
Warrants issued (in shares) | shares | 21,874,302 | ||
Warrants issued (in dollars per share) | $ / shares | $ 0.14 | ||
Gain on remeasurement of warrant liability (in shares) | shares | 0 | ||
Fair value per share (in dollars per share) | $ / shares | $ 0.08 | $ 0.15 | |
Measurement Input, Weighted Average Expected Life in Years [Member] | |||
Black Scholes Option Pricing Model [Abstract] | |||
Weighted average expected life in years (Years) | 5 years 2 months 15 days | 6 years 10 months 20 days | 4 years 8 months 1 day |
Measurement Input, Weighted Average Volatility (annual) [Member] | |||
Black Scholes Option Pricing Model [Abstract] | |||
Warrants measurement input | 3.25 | 2.76 | 1.16 |
Measurement Input, Weighted Average Risk Free Interest Rate [Member] | |||
Black Scholes Option Pricing Model [Abstract] | |||
Warrants measurement input | 0.030 | 0.030 | 0.012 |
Measurement Input, Expected Dividend Yield [Member] | |||
Black Scholes Option Pricing Model [Abstract] | |||
Warrants measurement input | 0 | 0 | 0 |
Warrant Classified [Member] | |||
Fair Value, Warrant Liability [Abstract] | |||
Warrant Liability, Fair Value | $ (2,167,022) | ||
Warrant Outstanding and Fair Value [Abstract] | |||
Warrants outstanding (in shares) | shares | (15,000,000) | ||
Fair value per share (in dollars per share) | $ / shares | $ 0.14 | ||
Level 3 [Member] | |||
Fair Value, Warrant Liability [Abstract] | |||
Warrant Liability, Fair Value | $ 5,513 | $ 15,869 | |
Warrants issued | 3,168 | ||
Cashless exercise | (2,167) | ||
Gain on remeasurement of warrant liability | (11,357) | ||
Level 3 [Member] | Warrant Liability [Member] | |||
Fair Value, Warrant Liability [Abstract] | |||
Warrant Liability, Fair Value | 5,295 | 9,614 | |
Warrants issued | 3,168 | ||
Cashless exercise | (2,167) | ||
Gain on remeasurement of warrant liability | (5,320) | ||
Level 3 [Member] | Conversion Feature [Member] | |||
Fair Value, Warrant Liability [Abstract] | |||
Warrant Liability, Fair Value | 218 | $ 6,255 | |
Warrants issued | 0 | ||
Cashless exercise | 0 | ||
Gain on remeasurement of warrant liability | $ (6,037) |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Thousands | 6 Months Ended | ||||
Jun. 30, 2022 | Jun. 28, 2022 | Jun. 30, 2022 | Jun. 30, 2021 | Mar. 31, 2022 | |
Related Party Transaction Disclosures [Abstract] | |||||
Purchases | $ 424 | ||||
Proceeds from short term loans | $ 2,130 | $ 1,033 | |||
A. Michael Stolarski [Member] | April 2022 Advances from Directors [Member] | |||||
Related Party Transaction Disclosures [Abstract] | |||||
Advances from related parties | $ 250 | ||||
Ian Miller [Member] | |||||
Related Party Transaction Disclosures [Abstract] | |||||
Proceeds from short term loans | $ 50 | ||||
PSWC [Member] | |||||
Related Party Transaction Disclosures [Abstract] | |||||
Purchases | $ 265 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions | 6 Months Ended | |||
Aug. 05, 2022 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Subsequent Event [Abstract] | ||||
Warrant exercise price (in dollars per share) | $ 0.21 | $ 0.20 | ||
Proceeds from warrant exercises | $ 100 | $ 0 | ||
Securities Purchase Agreement and Future Advance Convertible Promissory Notes [Member] | Subsequent Event [Member] | ||||
Subsequent Event [Abstract] | ||||
Aggregate principal amount | $ 16,100 | |||
Newly raised capital | 12,200 | |||
Acrrued expenses and fees rolled forward | $ 3,800 | |||
Number of trading days | 5 days | |||
Warrants term period | 5 years | |||
Proceeds from warrant exercises | $ 14,400 | |||
Securities Purchase Agreement and Future Advance Convertible Promissory Notes [Member] | Subsequent Event [Member] | Maximum [Member] | ||||
Subsequent Event [Abstract] | ||||
Share price (in dollars per share) | $ 0.04 | |||
Securities Purchase Agreement and Future Advance Convertible Promissory Notes [Member] | First Warrant [Member] | Subsequent Event [Member] | ||||
Subsequent Event [Abstract] | ||||
Warrants to purchase common stock (in shares) | 403 | |||
Warrant exercise price (in dollars per share) | $ 0.067 | |||
Securities Purchase Agreement and Future Advance Convertible Promissory Notes [Member] | First Warrant [Member] | Subsequent Event [Member] | Maximum [Member] | ||||
Subsequent Event [Abstract] | ||||
Warrant exercise price (in dollars per share) | $ 0.01 | |||
Securities Purchase Agreement and Future Advance Convertible Promissory Notes [Member] | Second Warrant [Member] | Subsequent Event [Member] | ||||
Subsequent Event [Abstract] | ||||
Warrants to purchase common stock (in shares) | 403 | |||
Warrant exercise price (in dollars per share) | $ 0.04 | |||
Leviston Resources LLC [Member] | Subsequent Event [Member] | ||||
Subsequent Event [Abstract] | ||||
Cash payment | $ 3,900 | |||
Shares issued (in shares) | 19.4 | |||
SBA Loan #2 [Member] | ||||
Subsequent Event [Abstract] | ||||
SBA loans | 1,033 | $ 1,033 | ||
Aggregate principal amount | $ 1,033 | $ 1,033 |