NOTES PAYABLE (Details Narrative) $ in Thousands |
1 Months Ended | 3 Months Ended | ||
---|---|---|---|---|
Jan. 10, 2020
USD ($)
|
Feb. 14, 2020
USD ($)
|
Mar. 31, 2020
USD ($)
integer
shares
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Mar. 31, 2019
USD ($)
|
|
Common stock issued upon conversion of debt and accrued interest | shares | 9,123,560 | |||
Debt conversion, converted instrument, amount | $ 1,028 | $ 7,854 | ||
Securities Purchase Agreement [Member] | Convertible promissory note [Member] | 2018 [Member] | ||||
Interest rate | 7.50% | |||
Debt conversion, converted instrument, amount | $ 0 | $ 750 | ||
Description of conversion price | For each note issued under the 2018 Master Securities Purchase Agreement, the principal and interest due and owed under the note is convertible into shares of Common Stock at any time at the election of the holder at a conversion price per share equal to the lower of (i) the original conversion price as defined in each note issuance or (ii) 87% of the average of the two lowest daily volume weighted average price of the Common Stock in the thirteen (13) trading days prior to the conversion date (“Conversion Price”). The Conversion Price is subject to adjustment for (i) stock splits, stock dividends, combinations, or similar events and (ii) full ratchet anti-dilution protection. Upon certain events of default, the conversion price will automatically become 70% of the average of the three (3) lowest volume weighted average prices of the Common Stock in the twenty (20) consecutive trading days prior to the conversion date | |||
Convertible debt aggregate value | $ 40,000 | |||
Amount per tranches | $ 5,000 | |||
Number of tranches | integer | 8 | |||
Principle remains outstanding balance | $ 4,750 | |||
Additional conversion conditions, description | In addition, at any time that (i) the daily volume weighted average price of the Common Stock for the prior ten (10) consecutive trading days is $10.50 or more and (ii) the average daily trading value of the Common Stock is greater than $2.50 million for the prior ten (10) consecutive trading days, then the Company may demand, upon one (1) day’s notice, that the holder convert the notes at the Conversion Price. | |||
Promissory Note [Member] | Unaffiliated Third Party [Member] | ||||
Debt instrument, amount | $ 1,000 | $ 110 | ||
Interest rate | 15.00% | 5.00% | ||
Maturity date | Jan. 10, 2021 | Aug. 13, 2020 |
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- Definition The value of the financial instrument(s) that the original debt is being converted into in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The name of the original debt issue that has been converted in a noncash (or part noncash) transaction during the accounting period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. No definition available.
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- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of shares issued during the period as a result of the conversion of convertible securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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