| Schedule of Long Term Debt |
Long-term
debt consists of the following:
Schedule of Long Term Debt
| (Amounts in Thousands) |
|
March 31, 2023 |
|
|
December 31, 2022 |
|
|
Revolving Credit facility dated May 8, 2020, borrowings based upon eligible accounts receivable,
subject to monthly borrowing base calculation, balance due on May 15, 2024.
Effective interest rate for first quarter of 2023 was 9.7% (1)
|
|
$ |
— |
|
|
$ |
— |
|
|
Revolving Credit facility dated May 8, 2020, borrowings based upon eligible accounts receivable,
subject to monthly borrowing base calculation, balance due on May 15, 2024.
Effective interest rate for first quarter of 2023 was 9.7% (1)
|
|
$ |
— |
|
|
$ |
— |
|
|
Term Loan dated May 8, 2020, payable in equal monthly installments of principal,
balance due on May 15, 2024. Effective interest rate for first quarter of 2023 Effective
interest rate for the first quarter of 2023 was 8.0% (1)
|
|
|
432 |
(2) |
|
|
552 |
(2) |
|
Capital Line dated May 4, 2021, payable in equal monthly installments of principal, balance due on May 15, 2024. Effective interest rate for first quarter of 2023 Effective interest rate for the first quarter of 2023 was 8.0% (1)
|
|
|
437 |
|
|
|
463 |
|
| Notes Payable to 2023 and 2025, annual interest rate of 5.6% and 9.1%. |
|
|
20 |
|
|
|
24 |
|
| Total debt |
|
|
889 |
|
|
|
1,039 |
|
| Less current portion of long-term debt |
|
|
446 |
|
|
|
476 |
|
| Long-term debt |
|
$ |
443 |
|
|
$ |
563 |
|
| (1) |
|
Our revolving credit
facility is collateralized by our accounts receivable, and our term loan and capital line are collateralized by our property, plant,
and equipment. |
| (2) |
|
Net of debt issuance
costs of ($101,000) and ($88,000) at March 31, 2023 and December 31, 2022, respectively. |
|