NOTE 19. SUBSEQUENT EVENT

Debt Financing Agreement

On May 16, 2023, the Company entered into the 2023 Amendment that effected several changes to the EWB facility. Pursuant to the 2023 Amendment, the Company agreed paid down $10.0 million of the $20.0 million outstanding term loan upon the closing of the 2023 Amendment. The 2023 Amendment revised the maturity date of the term loan from January 12, 2026 to July 1, 2024 and provides that the Company is no longer required to make monthly installments of principal of the term loan, and instead, is required to make monthly interest-only payments until the maturity date, at which time all principal and all accrued but unpaid interest will be due. The Company may prepay all or any part of the term loan without penalty or premium, but may not re-borrow any amount once repaid. The 2023 Amendment removed the revolving line of credit from the EWB Facility effective as of the date of the 2023 Amendment. The remaining term loan continues to bear interest at a floating rate equal to 1.73% above the prime rate and is payable monthly. Under the 2023 Amendment, the $10.0 million remaining term loan balance is due on the new maturity date of July 1, 2024 and the Company will maintain a minimum required cash balance of $8.75 million in deposit accounts with EWB which increases to $10 million on August 31, 2023.