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Long Term Debt (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Schedule of Long Term Debt

Long-term debt consists of the following:

Schedule of Long Term Debt 

(Amounts in Thousands)		September 30, 2022				December 31, 2021
Revolving Credit facility dated May 8, 2020, borrowings based upon eligible accounts receivable, subject to monthly borrowing base calculation, balance due on May 15, 2024. Effective interest rate for first nine month of 2022 was 0%. (1)		$	—			$	—
Revolving Credit facility dated May 8, 2020, borrowings based upon eligible accounts receivable, subject to monthly borrowing base calculation, balance due on May 15, 2024. Effective interest rate for first nine month of 2022 was 0%. (1)		$	—			$	—
Term Loan dated May 8, 2020, payable in equal monthly installments of principal, balance due on May 15, 2024. Effective interest rate for the first nine month of 2022 was 4.8%. (1)			642		(2)		954	(2)
Capital Line dated May 4, 2021, payable in equal monthly installments of principal, balance due on May 15, 2024. Effective interest rate for the first nine month of 2022 was 5.3%. (1)			480				—
Notes Payable to 2023 and 2025, annual interest rate of 5.6% and 9.1%.			28				39
Total debt			1,150				993
Less current portion of long-term debt			469				393
Long-term debt		$	681			$	600

⁽¹⁾ 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.

⁽²⁾ Net of debt issuance costs of ($104,000) and ($112,000) at September 30, 2022 and December 31, 2021, respectively.

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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