Quarterly report pursuant to Section 13 or 15(d)

Long Term Debt (Tables)

Long Term Debt (Tables)

6 Months Ended

Jun. 30, 2022

Long-term debt consists of the following:

Schedule of Long Term Debt

(Amounts in Thousands)	June 30, 2022			December 31, 2021
	$	—		$	—
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 six month of 2022 was 0%. ⁽¹⁾	$	—		$	—
Term Loan dated May 8, 2020, payable in equal monthly installments of principal, balance due on May 15, 2024. Effective interest rate for the first six month of 2022 was 4.5%. ⁽¹⁾		748	⁽²⁾		954	⁽²⁾
Capital Line dated May 4, 2021, payable in equal monthly installments of principal, balance due on May 15, 2024. Effective interest rate for the first six month of 2022 was 4.6%. ⁽¹⁾		515			—
Notes Payable to 2023 and 2025, annual interest rate of 5.6% and 9.1%.		32			39
Total debt		1,295			993
Less current portion of long-term debt		489			393
Long-term debt	$	806		$	600

⁽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 ($105,000) and ($112,000) at June 30, 2022 and December 31, 2021, respectively.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details