Quarterly report pursuant to sections 13 or 15(d)

Long Term Debt (Tables)

v2.4.0.8
Long Term Debt (Tables)
6 Months Ended
Jun. 30, 2013
Long Term Debt [Abstract]  
Long-term Debt Instruments
Long-term debt consists of the following at June 30, 2013 and December 31, 2012:

(Amounts in Thousands)
 
June 30,
2013
   
December
31, 2012
 
Revolving Credit facility dated October 31, 2011, borrowings based upon eligible accounts receivable, subject to monthly borrowing base calculation, variable interest paid monthly at our option of prime rate (3.25% at June 30, 2013) plus 2.0% or London Interbank Offer Rate ("LIBOR") plus 3.0%, balance due October 31, 2016.  Effective interestrate for first six months of 2013 was 3.30%. (1)
 
$
1,671
   
$
 
Term Loan dated October 31, 2011, payable in equal monthly installments of principal of $190, balance due in October 31, 2016, variable interest paid monthly at option of prime rate plus 2.5% or LIBOR plus 3.5%.  Effectiveinterest rate for first six months of 2013 was 4.06%. (1)
   
12,381
     
13,524
 
Promissory Note dated September 28, 2010, payable in 36 monthly equal installments of $40, which includes interest and principal, beginning October 15, 2010, interest accrues at annual rate of 6.0%. (2)
   
119
     
352
 
Promissory Note dated February 12, 2013, payable in monthly installments of $10, which includes interest and principal, starting February 28, 2013, interest accrues at annual rate of 6.0%, balance due January 31, 2015. (2)
   
184
     
 
Various capital lease and promissory note obligations, payable 2013 to 2014, interest at rates ranging from 5.2% to 8.0%.
   
116
     
391
 
 
   
14,471
     
14,267
 
Less current portion of long-term debt
   
2,568
     
2,794
 
Less long-term debt related to assets held for sale
   
53
     
71
 
 
 
$
11,850
   
$
11,402
 
 
(1)  Our Revolving Credit facility is collateralized by our accounts receivable and our Term Loan is collateralized by our property, plant, and equipment.
 
(2)  Uncollateralized note.