| Schedule of Long Term Debt |
Long-term
debt consists of the following as of September 30, 2025, and December 31, 2024:
Schedule of Long Term Debt
| (Amounts in Thousands) |
|
September 30, 2025 |
|
|
December 31, 2024 |
|
| Revolving Credit facility dated May 8, 2020, borrowings based upon eligible accounts receivable, subject to monthly borrowing base calculation, balance due on May 15, 2027. Effective interest rates for first nine months of 2025 was 9.5% (1) |
|
$ |
— |
|
|
$ |
— |
|
| Term Loan dated July 31, 2023, payable in equal monthly installments of principal, balance due on May 15, 2027. Effective interest rates for first nine months of 2025 was 8.4% (1) |
|
|
1,458 |
|
|
|
1,834 |
|
| Capital Loan dated May 4, 2021, payable in equal monthly installments of principal, balance due on May 15, 2027. Effective interest rates for first nine months of 2025 was 7.8% (1) |
|
|
175 |
|
|
|
253 |
|
| Debt Issuance Costs (2) |
|
|
(135 |
)(2)
|
|
|
(178 |
)(2)
|
| Notes Payable up to 2044, with annual interest rates ranging from 8.2% to 10.7% (3) |
|
|
390 |
|
|
|
406 |
|
| Total debt |
|
|
1,888 |
|
|
|
2,315 |
|
| Less current portion of long-term debt |
|
|
536 |
|
|
|
550 |
|
| Long-term debt |
|
$ |
1,352 |
|
|
$ |
1,765 |
|
| (1) |
Our Revolving Credit
facility is collateralized by our accounts receivable, and our Term loan and Capital loan are collateralized by our property, plant,
and equipment. |
| |
|
| (2) |
Aggregate unamortized
debt issuance costs in connection with the Company’s Credit Facility, which consists of the Revolving Credit, Terms loan and Capital
loan, as applicable. |
| |
|
| (3) |
Includes a promissory
note entered into on July 24, 2024, in connection with the purchase of the Company’s EWOC property which include a variable interest
rate provision, which interest rate will be adjusted at the end of years five, ten and fifteen from the date of the note. |
|