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Note 7 - Long-term Debt

3 Months Ended

Dec. 31, 2022

7. Long-term debt

On March 1, 2021, the Company assumed the outstanding long-term debt obligations of an acquired business and issued a seller note to one of the selling shareholders. The assumed debt obligations and seller note are denominated in Euros.

Long-term debt consisted of the following:

	As of December 31, 2022			As of September 30, 2022
Vendor loan payable (“Vendor loan”), accruing interest at 3.0% per annum. Principal and interest are payable in one remaining installment in March 2023.	$	320		$	292
Term loan payable, accruing interest at fixed rates ranging between 0.99% to 1.5% per annum, payable in monthly or quarterly payments of interest and principal and matured in October 2022.		-			44
Term loan payable, accruing interest at 3-Month EURIBOR plus 1.3% per annum, payable in quarterly installments starting in April 2023 and matures in July 2028.		428			389
Seller’s note payable (“Seller’s note”), due to one of the selling shareholders, accruing interest at a fixed rate of 4.0% per annum. The Seller’s note is payable over 5 installments and matures in September 2025.		320			292
Total debt		1,068			1,017
Less: current portion		(443	)		(429	)
Long-term debt, net of current portion	$	625		$	588

At December 31, 2022, future maturities of long-term debt are as follows:

Fiscal year:
2023 (remaining)	$	423
2024		206
2025		206
2026		78
2027		78
Thereafter		77
Total long-term debt	$	1,068