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Note 7 - Long-term Debt

3 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Long-Term Debt [Text Block]

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, 2023				As of September 30, 2023
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.		$	381			$	385
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.			265				317
Total debt			646				702
Less: current portion			(213	)			(267	)
Long-term debt, net of current portion		$	433			$	435

At December 31, 2023, future maturities of long-term debt are as follows:

Fiscal year:
2024 (remaining)		$	193
2025			213
2026			80
2027			80
2028			80
Total long-term debt		$	646

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- Definition

The entire disclosure for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

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