| Schedule of Long Term Debt |
Long-term debt consists of the following as of March
31, 2025, and December 31, 2024:
Schedule
of Long Term Debt
| (Amounts in Thousands) |
|
March 31, 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 quarter of 2025 was 9.5% (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, 2027. Effective
interest rates for first quarter 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 quarter of 2025 was 8.2% (1)
|
|
|
1,708 |
|
|
|
|
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 quarter of 2025 was 7.7% (1)
|
|
|
227 |
|
|
|
|
253 |
|
|
| Debt Issuance Costs (2) |
|
|
(174 |
) |
(2) |
|
|
(178 |
) |
(2) |
|
Notes Payable up
to 2044, with annual interest rates ranging from 8.2% to 10.7% (3)
|
|
|
401 |
|
|
|
|
406 |
|
|
| Total debt |
|
|
2,162 |
|
|
|
|
2,315 |
|
|
| Less current portion of long-term debt |
|
|
541 |
|
|
|
|
550 |
|
|
| Long-term debt |
|
$ |
1,621 |
|
|
|
$ |
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. |
|