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Note 5 - Current Debt | 9 Months Ended
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Sep. 30, 2022
Notes to Financial Statements |
Long-Term Debt [Text Block] |
5. | Current Debt
In August 2022, the Company entered into an Interim Funding Agreement (“IFA”) with Wells Fargo Equipment Finance, Inc. (“WFEF”) allowing for aggregate interim funding advances up to $13.5 million of equipment purchased for a new reinforced concrete pipe mill, to be converted into a term loan upon final delivery and acceptance of the financed equipment. The IFA bears interest at the Term Secured Overnight Finance Rate plus 1.75%, requires monthly payments of accrued interest, and grants a security interest in the equipment to WFEF. As of September 30, 2022, the outstanding balance was $3.5 million, which is classified as a current liability since there is not a firm commitment for long-term debt financing.

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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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