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Debt and Stockholders' Equity | 9 Months Ended
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Sep. 30, 2024
Debt [Abstract] |
Debt and Stockholders' Equity | 4. Debt and Stockholders’ Equity Long-term debt consists of (i) borrowings under the Company’s revolving loan agreement with HSBC Bank, N.A.(“HSBC”) and (ii) amounts outstanding under the fixed rate mortgage on the Company’s manufacturing and distribution facilities in Rocky Mount, NC and Vancouver, WA. The revolving loan agreement provides for borrowings of up to $65 million at an interest rate of Secured Overnight Financing Rate (“SOFR”) plus a margin of +1.75%; interest is payable monthly. The credit facility has an expiration date of May 31, 2026. The Company must pay a facility fee, payable quarterly, in an amount equal to one eighth of one percent (.125%) per annum of the average daily unused portion of the revolving credit line. The facility is intended to provide liquidity for growth, acquisitions, dividends, share repurchases, and other operating activities. Under the revolving loan agreement, the Company is required to maintain a specific ratio of funded debt to EBITDA, a fixed charge coverage ratio and must have annual net income greater than $0, measured as of the end of each fiscal year. As of September 30, 2024, the Company was in compliance with the covenants under the revolving loan agreement as then in effect. As of September 30, 2024 and December 31, 2023, the Company had outstanding borrowings of $22,059,000 and $13,165,000, excluding deferred financing costs of $41,000 and $60,000 respectively, under the Company’s revolving loan agreement with HSBC. The outstanding borrowings as of September 30, 2024 include amounts used to fund the acquisition of Elite First Aid, Inc. on May 23, 2024 (Note 13). The Company’s manufacturing and distribution facilities in Rocky Mount, NC and Vancouver, WA were financed by a fixed rate mortgage with HSBC at a fixed interest rate of 3.8%. The Company entered into the agreement on December 1, 2021. Commencing on January 1, 2022, payments of principal and interest are due monthly, with all amounts outstanding due on maturity on December 1, 2031. As of September 30, 2024 and December 31, 2023, long-term debt related to the mortgage consisted of the following (amounts in ‘000’s):
| September 30, 2024 |  | December 31, 2023 |
Mortgage payable - HSBC Bank N.A. | $ | 10,511 |  | $ | 10,823 |
Less debt issuance costs |  | (108 | ) |  | (120 | )
|  | 10,403 |  |  | 10,703 |
Less current maturities |  | 433 |  |  | 419 |
Long-term mortgage payable less current maturities | $ | 9,970 |  | $ | 10,284 |
During the three and nine months ended September 30, 2024, the Company issued a total of 16,921 and 61,729 shares of common stock, respectively, and received aggregate proceeds of $411,000 and $1,383,000, respectively, upon exercise of employee stock options. Also, during the three and nine months ended September 30, 2024, the Company issued 29,566 and 34,524 shares of common stock, respectively, to optionees who had elected a net share settlement of certain of their respective options.

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- Definition Long-term Debt And Shareholders Equity + References No definition available. + Details
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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