Quarterly report pursuant to Section 13 or 15(d)

Debt (Details)

v3.21.2
Debt (Details) - USD ($)
1 Months Ended 3 Months Ended 9 Months Ended
Apr. 11, 2020
Mar. 25, 2021
Oct. 31, 2018
May 31, 2017
Jun. 30, 2015
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Debt (Details) [Line Items]                    
Maintain minimum amount               $ 2,000,000    
Notes payable                   $ 2,900,000
Exercisable and expire     The warrants have an exercise price of $96.24 per share and $106.17 per share, are immediately exercisable and expire in June 2025 and July 2027, respectively.              
Maturity date description       Pursuant to the Sub Agreement, a final payment of $0.7 million was payable at the maturity date in April 2023.            
Amortized discount of intersest expense           $ 0 $ 83,000 34,000 $ 200,000  
Unamortized discount                   $ 200,000
Interest expense               200,000    
Remaining unamortized debt discount           $ 200,000   $ 200,000    
Investment agreement, description               The Company and Lender also entered into a Co-Investment Agreement, which grants to the Lender and its affiliates a right to purchase in the Company’s future private equity financings up to a total $3.0 million (if the Company only draws the first tranche) or $3.4 million (if the Company draws the second tranche) at the same per share purchase price and terms as other investors in such private equity financings.    
Security Agreement [Member]                    
Debt (Details) [Line Items]                    
Borrowings amount         $ 3,500,000          
Interest rate                   3.62%
Sub Agreement [Member]                    
Debt (Details) [Line Items]                    
Borrowings amount       $ 10,000,000            
Interest rate       12.00%            
Final payment       $ 700,000            
Legal cost       300,000            
Amortized discount of intersest expense       $ 1,200,000            
PPP Loan [Member]                    
Debt (Details) [Line Items]                    
Interest rate 1.00%                  
Principal amount $ 2,200,000                  
Description of debt The PPP Loan matures in two years and bears interest at a rate of 1% per year, with all payments deferred through the six-month anniversary of the date of the PPP Loan. Principal plus accrued unpaid interest is to be paid in one payment two years after the date of this note and may be prepaid by the Company at any time prior to maturity without penalty. The Company may apply for forgiveness of amounts due under the PPP Loan, with the amount of potential loan forgiveness to be calculated in accordance with the requirements of the CARES Act based on payroll costs, any mortgage interest payments, any covered rent payments and any covered utilities payments during the 8-24 week period after the origination date of the Loan.                  
Commercial Bank [Member]                    
Debt (Details) [Line Items]                    
Maintain minimum amount               $ 2,000,000    
Purchase of shares (in Shares)     234              
Warrant exercise price (in Dollars per share)     $ 96.24              
Loan and Security Agreement [Member]                    
Debt (Details) [Line Items]                    
Description of debt   the Company entered into a Loan and Security Agreement (the “Loan Agreement”) with Eastward Fund Management, LLC, as the lender (“Lender”) to establish a loan facility which provides for borrowings in the aggregate principal amount of up to $17.0 million, which are available to be drawn in two tranches. The first tranche of $15.0 million was funded on March 31, 2021. The second tranche of $2.0 million is available, at the Company’s request, between October 30, 2021, and November 30, 2021, provided the Company achieves at least $6.0 million in revenue and a maximum EBITDA loss of $4.8 million, in each case for the third fiscal quarter of 2021. Outstanding borrowings under the Loan Agreement are secured by a first priority lien on substantially all of the personal property assets of the Company, including the Company’s intellectual property. The Company is required to pay only interest during the first 18 months after funding of the tranche and thereafter, the Company shall repay such loan amount in 30 consecutive equal monthly installments of principal plus accrued interest. The loan facility bears an annual interest rate of the prime rate as published in the Wall Street Journal, subject to a floor 3.25%, plus 8.75%. On the final repayment date, Company is also obligated to pay a final payment fee equal to seven and one-half percent (7.5%) of the amount of the applicable advance.           In connection with the Loan Agreement, the Company issued the Lender warrants with a fair value of $0.4 million, which was recorded as a discount to the loan, to purchase up to 346,500 shares (increasing to 392,700 shares upon funding of the second tranche) of common stock that were immediately vested upon funding with an exercise price of $3.00 per share and a term of the earlier of i) March 24, 2031 and ii) the third anniversary of the Company’s listing on Nasdaq. The warrants also provide that any shares issued pursuant to the warrants are entitled to the registration rights afforded to holders of the Company’s stock, all as set forth in those certain outstanding Registration Rights Agreement dated as of October 5, 2020. The Company recorded the final payment of $1.1 million as both a discount and an increase to the principal amount of the debt. The Company also capitalized certain lender and legal costs associated with the Loan Agreement totaling $0.2 million, which were recorded as a discount to the loan. The aggregate discount of $1.8 million is being amortized to interest expense over the repayment term of the Loan and Security Agreement. The Company amortized $0.1 million and $0.3 million of the discount to interest expense during the three months and nine months ended September 30, 2021, respectively. At September 30, 2021, the remaining unamortized discount was $1.4 million.     
Warrant [Member]                    
Debt (Details) [Line Items]                    
Purchase of shares (in Shares)     91              
Warrant exercise price (in Dollars per share)     $ 106.17              
Prime Rate [Member] | Security Agreement [Member]                    
Debt (Details) [Line Items]                    
Interest rate                   0.50%