| Summary of Outstanding Debt |
The
fair value and face value principal outstanding of the 2024 Convertible Notes as of the dates indicated are as follows:
Summary of Outstanding Debt
| | |
Contractual Maturity Date | |
Stated Interest Rate | | |
Conversion Price per Share | | |
Face Value Principal Outstanding | | |
Fair Value | |
| 2024 Convertible Notes | |
November 22, 2029 | |
| 12.000 | % | |
$ | 1.00 | | |
$ | 21,975 | | |
$ | 25,300 | |
| Balance as of June 30, 2025 | |
| |
| | | |
| | | |
$ | 21,975 | | |
$ | 25,300 | |
| | |
Contractual Maturity Date | |
Stated Interest Rate | | |
Conversion Price per Share | | |
Face Value Principal Outstanding | | |
Fair Value | |
| 2024 Convertible Notes | |
November 22, 2029 | |
| 12.000 | % | |
$ | 1.00 | | |
$ | 21,975 | | |
$ | 18,600 | |
| Balance as of December 31, 2024 | |
| |
| | | |
| | | |
$ | 21,975 | | |
$ | 18,600 | |
|
| Schedule of Changes in Fair Value of Debt |
The
changes in the fair value of debt during the three and six months ended June 30, 2025 is as follows:
Schedule of Changes in Fair Value of
Debt
| | |
2024 Convertible Notes | | |
Other Income (expense) | |
| Fair Value - March 31, 2025 | |
$ | 32,800 | | |
$ | — | |
| Non-installment payments – common stock | |
| (75 | ) | |
| — | |
| Non-installment payments – cash | |
| (584 | ) | |
| — | |
| Change in fair value | |
| (6,841 | ) | |
| 6,841 | |
| Fair Value at June 30, 2025 | |
$ | 25,300 | | |
| - | |
| Other Income (Expense) - Change in fair value – three months ended June 30, 2025 | |
| | | |
$ | 6,841 | |
| | |
2024 Convertible Notes | | |
Other Income (expense) | |
| Fair Value - December 31, 2024 | |
$ | 18,600 | | |
$ | — | |
| Non-installment payments – common stock | |
| (107 | ) | |
| — | |
| Non-installment payments – cash | |
| (831 | ) | |
| — | |
| Change in fair value | |
| 7,638 | | |
| (7,638 | ) |
| Fair Value at June 30, 2025 | |
$ | 25,300 | | |
| - | |
| Other Income (Expense) - Change in fair value – six months ended June 30, 2025 | |
| | | |
$ | (7,638 | ) |
The
changes in the fair value of debt during the three and six months ended June 30, 2024 is as follows:
| | |
March 2023 Senior Convertible Note | | |
Other Income (expense) | |
| Fair Value - March 31, 2024 | |
$ | 13,140 | | |
$ | — | |
| Installment repayments – common stock | |
| (1,125 | ) | |
| — | |
| Non-installment payments – common stock | |
| (216 | ) | |
| — | |
| Change in fair value | |
| (599 | ) | |
| 599 | |
| Fair Value at June 30, 2024 | |
$ | 11,200 | | |
| - | |
| Other Income (Expense) - Change in fair value – three months ended June 30, 2024 | |
| | | |
$ | 599 | |
| | |
March 2023 Senior Convertible Note | | |
Other Income (expense) | |
| Fair Value - December 31, 2023 | |
$ | 13,950 | | |
$ | — | |
| Fair Value - Beginning Balance | |
$ | 13,950 | | |
$ | — | |
| Installment repayments – common stock | |
| (1,208 | ) | |
| — | |
| Non-installment payments – common stock | |
| (652 | ) | |
| — | |
| Change in fair value | |
| (890 | ) | |
| 890 | |
| Fair Value at June 30, 2024 | |
$ | 11,200 | | |
| - | |
| Fair Value - Ending Balance | |
$ | 11,200 | | |
| - | |
| Other Income (Expense) - Change in fair value – six months ended June 30, 2024 | |
| | | |
$ | 890 | |
|