| Schedule of Long Term Debt |
Long-term
debt consists of the following as of March 31, 2026, and December 31, 2025:
Schedule of Long Term Debt
| (Amounts in
Thousands) |
|
March 31, 2026 |
|
|
December 31, 2025 |
|
Revolving
Credit facility dated May 8, 2020, subject to monthly borrowing base calculation. Effective interest
rates for first quarter of 2026 was 8.7% (1) |
|
$ |
— |
|
|
$ |
— |
|
Revolving
Credit facility dated May 8, 2020, subject to monthly borrowing base calculation. Effective interest
rates for first quarter of 2026 was 8.7% (1) |
|
$ |
— |
|
|
$ |
— |
|
| Term Loan dated July 31,
2023, payable in equal monthly installments in principal of approximately $42. Effective interest rates for first quarter of 2026
was 7.6% (1) |
|
|
1,208 |
|
|
|
1,333 |
|
| Capital Loan dated May 4, 2021, payable
in equal monthly installments in principal of approximately $9. Effective interest rates for first quarter of 2026
was 7.0% (1) |
|
|
122 |
|
|
|
149 |
|
| Debt
Issuance Costs (2) |
|
|
(92 |
)(2)
|
|
|
(114 |
)(2)
|
| Notes Payable up
to 2044, with annual interest rates ranging from 8.2% to 10.7% (3) |
|
|
542 |
|
|
|
504 |
|
| Total debt |
|
|
1,780 |
|
|
|
1,872 |
|
| Less current portion of
long-term debt |
|
|
574 |
|
|
|
562 |
|
| Long-term debt |
|
$ |
1,206 |
|
|
$ |
1,310 |
|
| (1) |
Under our Credit facility, 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. |
| (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. |
|