Annual report pursuant to Section 13 and 15(d)

COMMON STOCK AND WARRANTS (Details Narrative)

v3.24.3
COMMON STOCK AND WARRANTS (Details Narrative) - $ / shares
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Aug. 13, 2021
Subsidiary, Sale of Stock [Line Items]      
Common stock, Par value $ 0.0001 $ 0.0001  
Common Stock, Shares Authorized 250,000,000 250,000,000  
Preferred stock, shares authorized 10,000,000    
Common stock, Shares issued 74,638,893 74,283,026  
Common stock, Shares outstanding 74,638,893 74,283,026  
Warrants outstanding 17,958,321    
Share price $ 0.09   $ 9.75
Vested 1,281    
Warrants to purchase shares the Company issued 5,912,040 warrants to purchase shares of the Company’s common stock Warrants. The Warrants provided for under the Fortress Credit Agreement were issued to certain lenders or their designees and will be exercisable to purchase one share of the Company’s common stock at an exercise price of $0.01 per share. The Warrants have a term of 7.5 years and will become exercisable upon the earliest to occur of (i) the third anniversary of the issuance of the warrants, (ii) an “Acquisition” as defined in the Warrant, (iii) any debt financing or issuance of equity or instruments convertible into equity interests of the Company in which the Company receives in excess of $50 million in one or a series of related transactions, and (iv) any other strategic transactions, joint ventures, financings or combinations between the Company and one or more investors or third parties in which the Company or its subsidiaries receive in excess of $50 million in one or a series of related transactions. The Company recorded a $1.7 million reduction of the senior term loan and a $1.7 million increase in additional paid in capital.    
Common Stock [Member]      
Subsidiary, Sale of Stock [Line Items]      
Warrants outstanding 12,045,000    
Public Warrants [Member]      
Subsidiary, Sale of Stock [Line Items]      
Warrants outstanding 11,500,000    
Warrants sold 11,500,000    
Share price $ 11.50    
Private Placement Warrants [Member]      
Subsidiary, Sale of Stock [Line Items]      
Warrants outstanding 545,000    
Warrants sold 545,000