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Long Term Debt (Tables) | 6 Months Ended
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Jun. 30, 2019
Debt Disclosure [Abstract] |
Schedule of Long-term Debt | Long-term debt consists of the following at June 30, 2019 and December 31, 2018:
(Amounts in Thousands) |  | June 30, 2019 |  |  | December 31, 2018 |
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 six months of 2019 was 6.8%. (1) |  | $ | ─ |  |  | $ | 639 |
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 six months of 2019 was 6.2%. (1) |  |  | 2,021 | (2) |  |  | 2,663 | (2)
Promissory Note with related party dated April 1, 2019, payable in twelve monthly installments of interest only, starting May 1, 2019 followed with twelve monthly installments of approximately $208 in principal plus accrued interest. Interest accrues at annual rate of 4.0%. (3) |  |  | 2,154 | (4) |  |  | ─ |
Total debt |  |  | 4,175 |  |  |  | 3,302 |
Less current portion of long-term debt |  |  | 581 |  |  |  | 1,184 |
Long-term debt |  | $ | 3,594 |  |  | $ | 2,118 |
(1) Our revolving credit facility is collateralized by our accounts receivable and our term loan is collateralized by our property, plant, and equipment. Effective July 1, 2019, monthly installment principal payment on the Term Loan was amended to approximately $35,547 from approximately $101,600. See discussion of the amendment dated June 20, 2019 to the Company’s loan agreement below. (2) Net of debt issuance costs of ($112,000) and ($80,000) at June 30, 2019 and December 31, 2018, respectively. (3) Uncollateralized note. (4) Net of debt discount/debt issuance of ($346,000) at June 30, 2019.

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