Notes Payable and Convertible Promissory Notes (Tables)

6 Months Ended

Jun. 30, 2023

The following table summarizes the Company’s outstanding term loans:

Schedule of Outstanding Term Loans

(in thousands)	June 30, 2023			December 31, 2022
2019 Term Loan	$	5,677		$	5,677
2022 Term Loans		3,046			2,365
2023 Term Loans		1,332			-
Notes payable		10,055			8,042
Unamortized discounts and fees		(640	)		(709	)
Loans payable	$	9,415		$	7,333

Schedule of Convertible Promissory Notes

The following table summarizes the Company’s outstanding convertible notes as of June 30, 2023, and December 31, 2022:

(in thousands)	June 30, 2023		December 31, 2022
Convertible Notes	$	1,176	$	1,319
Unamortized discounts		-		(67	)
Convertible notes payable, net	$	1,176	$	1,252

Schedule of Fair Value of Derivative liabilities Estimated Issuance and Valuation Mode

During the six months ended June 30, 2023, the fair value of the derivative liabilities was estimated at issuance and at the June 30, 2023, using the Binomial Lattice valuation model with the following assumptions:

Dividend rate	—	%
Term (in years)	0.00 to 1.10 year
Volatility	178.2% to 409	%
Risk-free interest rate	3.36% to 5.55	%

Adhera Therapeutics, Inc. 10-Q