| Schedule of Debt |
Total debt consists of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, |
|
December 31, |
|
|
|
|
($ in thousands) |
|
2022 |
|
2021 |
|
Interest rate |
|
Maturity |
|
|
|
|
|
|
|
|
|
|
Oaktree Note |
|
$ |
50,000 |
|
$ |
60,450 |
|
11.00 |
% |
August - 2025 |
EWB term loan |
|
|
20,000 |
|
|
— |
|
8.38 |
% |
January - 2026 |
Runway Note |
|
|
31,050 |
|
|
— |
|
11.69 |
% |
April - 2027 |
Less: Discount on notes payable |
|
|
(9,885) |
|
|
(7,063) |
|
|
|
|
Repayment of Oaktree Note |
|
|
— |
|
|
(10,450) |
|
|
|
|
Total notes payable |
|
$ |
91,165 |
|
$ |
42,937 |
|
|
|
|
|
| Schedule of partner company installment payments - licenses |
The following tables show the details of partner company installment payments – licenses for the periods presented.
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2022 |
($ in thousands) |
|
Short-term |
|
Long-term |
|
Total |
Partner company installment payments - licenses |
|
$ |
9,563 |
|
$ |
1,437 |
|
$ |
11,000 |
Less: imputed interest |
|
|
(441) |
|
|
(63) |
|
|
(504) |
Total partner company installment payments - licenses |
|
$ |
9,122 |
|
$ |
1,374 |
|
$ |
10,496 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2021 |
($ in thousands) |
|
Short-term |
|
Long-term |
|
Total |
Partner company installment payments - licenses |
|
$ |
5,000 |
|
$ |
4,000 |
|
$ |
9,000 |
Less: imputed interest |
|
|
(490) |
|
|
(373) |
|
|
(863) |
Total partner company installment payments - licenses |
|
$ |
4,510 |
|
$ |
3,627 |
|
$ |
8,137 |
|
|
|
|
|
|
|
|
|
|
|
| Interest Expense for all Debt Arrangements |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
2022 |
|
2021 |
($ in thousands) |
|
Interest |
|
Fees |
|
Total |
|
Interest |
|
Fees |
|
Total |
LOC Fees |
|
$ |
11 |
|
$ |
— |
|
$ |
11 |
|
$ |
14 |
|
$ |
— |
|
$ |
14 |
Oaktree Note |
|
|
1,406 |
|
|
395 |
|
|
1,801 |
|
|
2,136 |
|
|
342 |
|
|
2,478 |
Partner company convertible preferred shares |
|
|
— |
|
|
— |
|
|
— |
|
|
1,034 |
|
|
378 |
|
|
1,412 |
Partner company dividend payable |
|
|
— |
|
|
— |
|
|
— |
|
|
365 |
|
|
— |
|
|
365 |
Partner company installment payments - licenses |
|
|
201 |
|
|
— |
|
|
201 |
|
|
175 |
|
|
— |
|
|
175 |
Partner company notes payable |
|
|
1,221 |
|
|
159 |
|
|
1,380 |
|
|
— |
|
|
— |
|
|
— |
Total Interest Expense and Financing Fee |
|
$ |
2,839 |
|
$ |
554 |
|
$ |
3,393 |
|
$ |
3,724 |
|
$ |
720 |
|
$ |
4,444 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, |
|
|
2022 |
|
2021 |
($ in thousands) |
|
Interest |
|
Fees |
|
Total |
|
Interest |
|
Fees |
|
Total |
LOC Fees |
|
$ |
37 |
|
$ |
— |
|
$ |
37 |
|
$ |
37 |
|
$ |
— |
|
$ |
37 |
Oaktree Note |
|
|
4,171 |
|
|
1,126 |
|
|
5,297 |
|
|
5,455 |
|
|
975 |
|
|
6,430 |
Partner company convertible preferred shares |
|
|
— |
|
|
— |
|
|
— |
|
|
1,034 |
|
|
648 |
|
|
1,682 |
Partner company dividend payable |
|
|
— |
|
|
— |
|
|
— |
|
|
628 |
|
|
— |
|
|
628 |
Partner company installment payments - licenses |
|
|
619 |
|
|
— |
|
|
619 |
|
|
616 |
|
|
— |
|
|
616 |
Partner company notes payable |
|
|
2,570 |
|
|
374 |
|
|
2,944 |
|
|
— |
|
|
— |
|
|
— |
Total Interest Expense and Financing Fee |
|
$ |
7,397 |
|
$ |
1,500 |
|
$ |
8,897 |
|
$ |
7,770 |
|
$ |
1,623 |
|
$ |
9,393 |
|