v3.25.2
Note 8 - Notes Payable and Convertible Notes Payable (Tables)
6 Months Ended
Jun. 30, 2025
Notes Tables  
Schedule of Long-Term Debt Instruments [Table Text Block]
  

Stated

  

June 30,

  

December 31,

 

(in thousands, except interest rates)

 

Interest Rate

  

2025

  

2024

 

Notes payable:

            

Advance Cecil, Inc. (commenced April 2019)

  8.00% $150  $146 

Maryland DHCD (commenced February 2019)

  8.00%  754   734 

Maryland DHCD (commenced May 2022)

  6.00%  912   1,083 

Senior Secured Promissory Notes (commenced December 2024)

  12.00%  3,537   3,537 
       5,353   5,500 

Unamortized discount and debt issuance costs

      (360)  (531)

Less notes payable, current portion, net of unamortized discount and debt issuance costs

      (374)  (359)

Notes payable, net of current portion

     $4,619  $4,610 
             

Convertible notes payable:

            

Maryland DHCD (commenced December 2022)

  6.00% $5,312  $5,312 

Senior Secured Convertible Promissory Notes (commenced December 2024)

  12.00%  6,500   6,500 
       11,812   11,812 

Unamortized discount and debt issuance costs

      (678)  (996)

Convertible notes payable

     $11,134  $10,816 
Schedule of Maturities of Long-Term Debt [Table Text Block]

(in thousands)

 

2019 MD Loan

  

2019 Cecil Loan

  

2022 MD Loan

  

2022 DHCD Loan

  

2024 SSCP Notes

  

Total

 

2025 (remainder)

 $  $  $176  $  $   176 

2026

        369      10,000   10,369 

2027

        317         317 

2028

           5,000      5,000 

2029

                  

2030

                  

Thereafter

  500   100            600 

Total debt principal payments

  500   100   862   5,000   10,000   16,462 

Accrued and unpaid interest

  254   50   50   312   37   703 

Unamortized discount and debt issuance costs

        (12)  (32)  (994)  (1,038)

Future debt payments, net

 $754  $150  $900  $5,280  $9,043  $16,127