Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

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Long-Term Debt (Tables)
 9 Months Ended
Sep. 30, 2018
Debt Disclosure [Abstract]  
Schedule of Long-term Debt

Long-term debt consists of the following at September 30, 2018 and December 31, 2017:

 

(Amounts in Thousands)   September 30, 2018     December 31, 2017  
Revolving Credit facility dated October 31, 2011, as amended, borrowings based upon eligible accounts receivable, subject to monthly borrowing base calculation, balance due March 24, 2021. Effective interest rate for the first nine months of 2018 was 5.5%(1)   $ 1,283     $ ―  
Term Loan dated October 31, 2011, as amended, payable in equal monthly installments of principal of $102, balance due on March 24, 2021. Effective interest rate for the first nine months of 2018 was 5.4%. (1)     2,959 (2)     3,847 (2)
Capital Lease (3)     181       ―  
Total debt     4,423       3,847  
Less current portion of long-term debt     1,244       1,184  
Long-term debt   $ 3,179     $ 2,663  

 

(1) Our revolving credit facility is collateralized by our accounts receivable and our term loan is collateralized by our property, plant, and equipment.

 

(2) Net of debt issuance costs of ($88,000) and ($115,000) at September 30, 2018 and December 31, 2017, respectively.

 

(3) One capital lease payable through December 2020, interest at rate of 11.9%.