| Schedule of Long Term Debt |
Long-term
debt consists of the following:
Schedule of Long Term Debt
| (Amounts
in Thousands) |
|
September
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 nine month of 2022 was 0%. (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 nine 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 nine month of 2022 was 4.8%. (1) |
|
|
642
|
|
(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 nine month of 2022 was 5.3%. (1) |
|
|
480 |
|
|
|
— |
|
| Notes
Payable to 2023 and 2025, annual interest rate of 5.6% and 9.1%. |
|
|
28 |
|
|
|
39 |
|
| Total
debt |
|
|
1,150 |
|
|
|
993 |
|
| Less
current portion of long-term debt |
|
|
469 |
|
|
|
393 |
|
| Long-term
debt |
|
$ |
681 |
|
|
$ |
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 ($104,000) and ($112,000) at September 30, 2022 and December 31, 2021, respectively. |
|