Quarterly report pursuant to Section 13 or 15(d)

ADVANCES ON FUTURE RECEIPTS (Details Narrative)

v3.23.1
ADVANCES ON FUTURE RECEIPTS (Details Narrative) - USD ($)
$ in Thousands
3 Months Ended
Feb. 16, 2023
Oct. 25, 2022
Aug. 25, 2022
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Short-Term Debt [Line Items]            
Face amount $ 1,811          
Amortization of debt discount       $ 402 $ 536  
Payment of debt issuance cost       87 365  
Debt outstanding       1,811   $ 1,989
Unamortized debt discount       424   311
Debt issuance cost       66   37
Amortization of debt issuance cost       112 113  
Received advances on future receipts       290  
Note Two [Member]            
Short-Term Debt [Line Items]            
Debt instrument face amount [1]       343    
Note One [Member]            
Short-Term Debt [Line Items]            
Debt instrument face amount [2]       1,249    
Note Three [Member]            
Short-Term Debt [Line Items]            
Debt instrument face amount [3]       150    
Unaffiliated Third Party [Member] | Note Two [Member]            
Short-Term Debt [Line Items]            
Face amount   $ 225 $ 2,500      
Purchase of future receipts   322        
Amortization of debt discount   97   28    
Payment of debt issuance cost   $ 16        
Debt outstanding           207
Unamortized debt discount 16         44
Debt issuance cost 3         7
Debt instrument face amount       86    
Amortization of debt issuance cost       4    
Unaffiliated Third Party [Member] | Note One [Member]            
Short-Term Debt [Line Items]            
Purchase of future receipts     3,400      
Amortization of debt discount     900 155    
Payment of debt issuance cost     $ 100      
Debt outstanding           $ 1,782
Unamortized debt discount 112     267    
Debt issuance cost 13     30    
Debt instrument face amount       643    
Amortization of debt issuance cost       17    
Unaffiliated Third Party [Member] | Note Three [Member]            
Short-Term Debt [Line Items]            
Face amount 1,550          
Purchase of future receipts 2,108          
Amortization of debt discount 558     134    
Payment of debt issuance cost 87     297    
Debt outstanding       1,811    
Unamortized debt discount       424    
Debt issuance cost       66    
Amortization of debt issuance cost       $ 21    
Received advances on future receipts $ 290          
[1] On April 4, 2016, the Company issued a convertible note payable to Mr. Cutaia, in the amount of $343, to consolidate all advances made by Mr. Cutaia to the Company during the period December 2015 through March 2016. On May 19, 2021, the Company amended the note to allow for conversion of the note at any time at the discretion of the holder at a fixed conversion price of $41.20, which was the closing price of the common stock on the amendment date. As of March 31, 2023 and December 31, 2022, the outstanding balance under the note was $46 and $45, respectively.
[2] On December 1, 2015, the Company issued a convertible note payable to Mr. Cutaia, the Company’s Chief Executive Officer and a director, to consolidate all loans and advances made by Mr. Cutaia to the Company as of that date. On May 19, 2021, the Company amended the note to allow for conversion of the note at any time at the discretion of the holder at a fixed conversion price of $41.20, which was the closing price of the common stock on the amendment date. On May 12, 2022, the maturity date of the note was extended to April 1, 2023. As of March 31, 2023 and December 31, 2022, the outstanding balance under the note was $833 and $811, respectively.
[3] On May 15, 2020, the Company executed an unsecured loan with the SBA under the Economic Injury Disaster Loan program in the amount of $150. Installment payments, including principal and interest, began on October 26, 2022. In September 2022, the SBA approved an additional loan of $350. As of May 22, 2023, the Company has not received these funds. As of March 31, 2023 and December 31, 2022, the outstanding balance under the note was $150.