Debt - Additional Information (Detail)
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1 Months Ended |
3 Months Ended |
9 Months Ended |
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Oct. 28, 2019
USD ($)
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May 07, 2019
USD ($)
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Nov. 09, 2018
USD ($)
Day
$ / shares
shares
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Sep. 27, 2018
USD ($)
$ / shares
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Mar. 31, 2020
USD ($)
$ / shares
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Nov. 30, 2019
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Oct. 31, 2019
$ / shares
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Mar. 31, 2020
USD ($)
$ / shares
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Mar. 31, 2019
USD ($)
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Sep. 30, 2019
USD ($)
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Apr. 30, 2020
USD ($)
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Dec. 31, 2019
USD ($)
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May 31, 2019
$ / shares
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Mar. 06, 2018
USD ($)
$ / shares
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SWK Warrants |
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Debt Instrument [Line Items] |
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Warrants adjusted strike price | $ / shares |
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$ 0.49
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$ 1.00
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$ 1.00
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Initial exercise price of warrants | $ / shares |
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$ 1.34
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Warrants issued to purchase shares of common stock | shares |
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372,023
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Warrants expire date |
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Nov. 09, 2026
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Number of trading days of average closing price of common stock | Day |
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10
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Warrants expiration period |
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8 years
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Warrants fair value assumptions, expected volatility rate |
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81.79%
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Warrants fair value assumptions annual dividend per share | $ / shares |
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$ 0.00
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Warrants fair value assumptions, risk-free interest rate |
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3.13%
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Warrants, estimated fair value |
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$ 400,000
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DPG Warrants |
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Debt Instrument [Line Items] |
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Finder's fee |
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$ 400,000
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Initial exercise price of warrants | $ / shares |
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$ 1.34
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Warrants issued to purchase shares of common stock | shares |
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279,851
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Warrants expire date |
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Nov. 09, 2026
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Number of trading days of average closing price of common stock | Day |
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10
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Warrants expiration period |
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8 years
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Warrants fair value assumptions, expected volatility rate |
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81.79%
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Warrants fair value assumptions annual dividend per share | $ / shares |
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$ 0.00
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Warrants fair value assumptions, risk-free interest rate |
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3.13%
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Warrants, estimated fair value |
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$ 300,000
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DPG Warrants | Warrants Issued on November 9, 2018 |
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Debt Instrument [Line Items] |
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Initial exercise price of warrants | $ / shares |
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$ 1.34
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0.8767
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$ 0.8767
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DPG Warrants | Warrants Issued on May, 2019 |
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Debt Instrument [Line Items] |
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Initial exercise price of warrants | $ / shares |
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$ 1.4197
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$ 1.4197
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$ 2.17
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Original Western Alliance Warrant |
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Debt Instrument [Line Items] |
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Initial exercise price of warrants | $ / shares |
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$ 2.35
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Western Alliance Warrant |
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Debt Instrument [Line Items] |
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Initial exercise price of warrants | $ / shares |
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$ 2.13
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Warrants expire date |
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Sep. 27, 2028
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SWK Warrants and DPG Warrants |
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Debt Instrument [Line Items] |
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Warrants effective-interest method amortization period |
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5 years
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Credit Agreement, First Amendment | SWK Warrants |
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Debt Instrument [Line Items] |
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Additional warrants to purchase common stock value |
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$ 200,000
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Credit Agreement, First Amendment | DPG Warrants |
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Debt Instrument [Line Items] |
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Additional warrants to purchase common stock value |
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100,000
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Additional finders fee |
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100,000
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Maximum | Original Western Alliance Warrant |
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Debt Instrument [Line Items] |
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Warrants issued to purchase shares of common stock equal value |
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$ 120,000
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Maximum | Western Alliance Warrant |
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Debt Instrument [Line Items] |
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Warrants issued to purchase shares of common stock equal value |
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$ 120,000
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Pacific Mercantile Bank | Subsequent Event |
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Debt Instrument [Line Items] |
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Line of credit, outstanding borrowings |
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$ 3,000,000
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SWK Loan |
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Debt Instrument [Line Items] |
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Line of credit facility, maximum borrowing capacity |
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$ 12,500,000
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Line of credit facility term |
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5 years
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Borrowings under lines of credit |
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$ 12,500,000
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Debt instrument, repayment of interest-only on loan period |
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2 years
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Debt instrument, principal repayments beginning term |
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2021
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Repayments of lines of credit |
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$ 700,000
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Debt instrument, maturity term |
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2023
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Debt instrument covenant description |
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(i) maintain unencumbered liquid assets of (A) no less than $1.5 million or (B) the sum of aggregate cash flow from operations less capital expenditures, (ii) achieve certain revenue and EBITDA levels during the first two years of the loan, (iii) limit future borrowing, investments and dividends, and (iv) submit monthly and quarterly financial reporting.
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Debt issuance costs |
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$ 1,000,000
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Loan origination fee |
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200,000
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Finder's fee |
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400,000
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Legal and other fees |
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$ 400,000
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Interest expense |
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$ 600,000
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$ 500,000
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Weighted-average interest rate |
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12.25%
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12.25%
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SWK Loan | LIBOR |
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Debt Instrument [Line Items] |
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Line of credit facility interest rate description |
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London Interbank Bank Offered Rate (“LIBOR”) plus 10% or another index that approximates LIBOR as close as possible if and when LIBOR no longer exists.
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Line of credit facility bearing floating interest rate per annum |
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10.00%
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SWK Loan | Credit Agreement, First Amendment |
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Debt Instrument [Line Items] |
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Line of credit facility, maximum borrowing capacity |
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15,000,000
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Debt instrument covenant description |
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(a) adjust minimum revenue and EBITDA levels, (b) require the Company to have a shelf registration statement declared effective by the Securities and Exchange Commission before September 30, 2019, with a proposed maximum aggregate offering price of at least $10.0 million if the Company did not reach set minimum revenue levels for the three-month period ended September 30, 2019, and (c) require minimum liquidity of $1.5 million at all times. The First Amendment provided that if aggregate minimum revenue and EBITDA levels were not achieved by September 30, 2019, the minimum liquidity requirement would be increased to $3.0 million, until the Company has obtained additional equity or debt funding of no less than $5.0 million.
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Minimum level of liquidity financial covenant |
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1,500,000
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Additional equity or debt funding requirement until minimum liquidity is met |
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5,000,000
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$ 5,000,000
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Maximum aggregate offering price |
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10,000,000
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Increase in minimum liquidity requirement if aggregate minimum revenue and EBITDA levels are not achieved |
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3,000,000
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Financial covenant additional borrowings |
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2,500,000
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Loan origination and other fees to be paid |
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$ 100,000
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SWK Loan | Credit Agreement, Second Amendment [Member] |
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Debt Instrument [Line Items] |
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Line of credit facility, maximum borrowing capacity |
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$ 5,000,000
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SWK Loan | Maximum |
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Debt Instrument [Line Items] |
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Debt instrument covenants unencumbered liquid assets |
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$ 1,500,000
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SWK Loan | Minimum | Credit Agreement, Second Amendment [Member] |
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Debt Instrument [Line Items] |
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Gross proceeds from subordinated debt threshold limit |
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$ 5,000,000
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Western Alliance | Business Financing Agreement |
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Debt Instrument [Line Items] |
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Repayments of lines of credit |
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$ 900,000
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Loan Agreement | Pacific Mercantile Bank |
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Debt Instrument [Line Items] |
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Line of credit facility, maximum borrowing capacity |
$ 3,000,000
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Maximum borrowing base percentage of eligible accounts |
90.00%
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Maximum borrowing base percentage of eligible inventory |
75.00%
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Line of credit facility expiration date |
Oct. 28, 2021
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Interest rate |
1.50%
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Line of credit, outstanding borrowings |
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$ 0
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$ 0
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0
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Line of credit facility, unused availability |
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$ 3,000,000
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$ 3,000,000
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$ 2,700,000
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Loan Agreement | Pacific Mercantile Bank | Subsequent Event |
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Debt Instrument [Line Items] |
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Line of credit facility, current borrowing capacity |
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$ 3,000
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Loan Agreement | Pacific Mercantile Bank | Maximum |
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Debt Instrument [Line Items] |
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Interest rate |
6.00%
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Loan Agreement | Exim Bank |
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Debt Instrument [Line Items] |
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Line of credit facility expiration date |
Oct. 28, 2020
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Annual fee |
$ 52,500
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Termination fee |
$ 30,000
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