Quarterly report pursuant to Section 13 or 15(d)

Borrowings

v3.23.3
Borrowings
9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Borrowings

NOTE 6 —Borrowings

 

Promissory Notes Payable —In 2014 and 2017, the Company entered into agreements with one of its suppliers, whereby certain of its trade payables for royalties and royalty up-front payments were converted to payment plans. In December 2018, the Company amended its accounts payable financing agreements, effective January 1, 2019, which provides for the $736 outstanding balance to be paid in twenty equal quarterly installments. The amounts due under these agreements are paid in quarterly installments over periods from two to four years, with interest ranging up to 8%. Remaining balances are all current liabilities and are $37 and $147 at September 30, 2023, and December 31, 2022, respectively.