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Note 7 - Line of Credit and Long-term Debt | 3 Months Ended
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Mar. 31, 2022
Notes to Financial Statements |
Long-Term Debt [Text Block] | 7. Long-term debt Long-term debt consisted of the following as of March 31, 2022 and December 31, 2021:
(In thousands) |  | Maturity Date |  | Interest Rate |  |  | March 31, 2022 |  |  | December 31, 2021 |
2022 term loan 1 |  | Sep-24 |  |  | 4.0 | % |  | $ | 1,750 |  |  | $ | 1,750 |
2022 term loan 2 |  | Various |  |  | 4.0 | % |  |  | 2,896 |  |  |  | 2,813 |
Insurance premium financing |  | Apr-22 |  |  | 4.0 | % |  |  | 69 |  |  |  | 373 |
Freezer equipment loan |  | Dec-25 |  |  | 5.7 | % |  |  | 572 |  |  |  | 612 |
Manufacturing equipment loans |  | Oct-25 |  |  | 5.7 | % |  |  | 333 |  |  |  | 355 |
Freezer installation loan |  | Various |  |  | 6.3 | % |  |  | 1,271 |  |  |  | 1,334 |
Other loans |  | Various |  |  | Various |  |  |  | 8 |  |  |  | 9 |
Total debt, excluding unamortized debt issuance costs |  |  |  |  |  |  | 6,899 |  |  |  | 7,246 |
Less: unamortized debt issuance costs |  |  |  |  |  |  | (29 | ) |  |  | (31 | )
Total debt |  |  |  |  |  |  | 6,870 |  |  |  | 7,215 |
Less: current portion |  |  |  |  |  |  | (557 | ) |  |  | (862 | )
Total long-term debt |  |  |  |  |  | $ | 6,313 |  |  | $ | 6,353 |
The 2022 term loans are secured by substantially all assets of Global Cooling. Equipment loans are secured by the financed equipment. As of March 31, 2022, the scheduled maturities of loans payable for each of the next five years and thereafter were as follows:
(In thousands) |  | Amount |
2022 (9 months remaining) |  | $ | 432 |
2023 |  |  | 813 |
2024 |  |  | 2,294 |
2025 |  |  | 543 |
2026 |  |  | 221 |
Thereafter |  |  | 2,596 |
Total debt, excluding unamortized debt issuance costs |  |  | 6,899 |
Less: unamortized debt issuance costs |  |  | (29 | )
Total debt |  | $ | 6,870 |

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI https://asc.fasb.org/topic&trid=2208564 + Details
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