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v3.22.2.2

Long Term Debt (Details Narrative) - USD ($) |  |  |  |  | 9 Months Ended |  |
--- | --- | --- | --- | --- | --- | --- | ---
Aug. 29, 2022 | Aug. 02, 2022 | Mar. 29, 2022 | May 08, 2020 | Sep. 30, 2022 | Dec. 31, 2021 | May 04, 2021
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Long term debt |  |  |  |  |  | $ 1,150,000 | $ 993,000 |
Line of credit facility, revolving credit |  |  |  |  |  |  |  | $ 1,000,000
Percentage of unused line fees |  |  |  | 0.375% |  |  |  |
Letters of credit outstanding, amount |  |  |  |  |  | 3,016,000 |  |
Lender [Member] |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Debt instrument, fee amount |  |  | $ 15,000 | $ 15,000 |  |  |  |
Minimum [Member] |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Percentage of unused line fees |  |  |  | 0.375% |  |  |  |
Maximum [Member] |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Percentage of unused line fees |  |  |  | 0.50% |  |  |  |
Loan Agreement [Member] |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Debt Instrument, Description |  |  | the quarterly FCCR testing requirement starting for the fourth quarter of 2022 and revises the methodology to be used in calculating the FCCR for the quarters ending December 31, 2022 and March 31, 2023 (with no change to the minimum 1.15:1 ratio requirement for each quarter) | the quarterly FCCR testing requirement starting for the second quarter of 2022 and revises the methodology to be used in calculating the FCCR for the quarters ending June 30, 2022, September 30, 2022, and December 31, 2022 (with no change to the minimum 1.15:1 ratio requirement for each quarter) |  |  |  |
Debt instrument, interest rate terms |  | As a result of this amendment, payment of annual rate of interest due on the revolving credit is at prime (6.25% at September 30, 2022) plus 2% or Term SOFR Rate (as defined in the Revised Loan Agreement) plus 3.00% plus an SOFR Adjustment applicable for an interest period selected by the Company and payment of annual rate of interest due on the term loan and the capital expenditure line is at prime plus 2.50% or Term SOFR Rate plus 3.50% plus an SOFR Adjustment applicable for an interest period selected by the Company. Pursuant to the Revised Loan Agreement, SOFR Adjustment rates of 0.10% and 0.15% are applicable for a one-month interest period and three-month period, respectively, that may be selected by the Company. |  |  |  |  |  |
Term Loan [Member] |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Long term debt | [1],[2] |  |  |  |  | 642,000 | 954,000 |
Captail Line [Member] |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Long term debt | [2] |  |  |  |  | 480,000 |  |
Revised Loan Agreement [Member] | PNC Bank [Member] | Term Loan [Member] |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Long term debt |  |  |  |  | $ 1,742,000 |  |  |
Debt instrument periodic payment |  |  |  |  | $ 35,547 |  |  |
Revolving Credit Facility [Member] |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Line of credit facility, revolving credit |  |  | $ 3,000,000 | $ 3,000,000 |  |  |  |
Line of credit facility, remaining borrowing capacity |  |  |  |  |  | 4,548,000 |  |
Letters of credit outstanding, amount |  |  |  |  |  | 3,016,000 |  |
Revolving Credit Facility [Member] | Lender [Member] |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Line of credit, borrowing capacity |  |  | requires maintenance of a minimum of $3,000,000 in borrowing availability under the revolving credit until the minimum FCCR requirement for the quarter ended December 31, 2022 has been met and certified to the lender | requires maintenance of a minimum of $3,000,000 in borrowing availability under the revolving credit until the minimum FCCR requirement for the quarter ended June 30, 2022 has been met and certified to the lender |  |  |  |
Revolving Credit Facility [Member] | Revised Loan Agreement [Member] | PNC Bank [Member] |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Debt instrument maturity date |  |  |  |  | Mar. 15, 2024 |  |  |
Line of credit facility, maximum borrowing capacity |  |  |  |  | $ 18,000,000 |  |  |
Revolving Credit Facility [Member] | Revised Loan Agreement [Member] | PNC Bank [Member] | Captail Line [Member] |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |
Long term debt |  |  |  |  |  | 524,000 |  |
Debt instrument periodic payment |  |  |  |  |  | $ 8,700 |  |
[1] | Net of debt issuance costs of ($104,000) and ($112,000) at September 30, 2022 and December 31, 2021, respectively.
[2] | Our revolving credit facility is collateralized by our accounts receivable and our term loan and capital line are collateralized by our property, plant, and equipment.

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