XML 69 R57.htm IDEA: XBRL DOCUMENT v3.21.1
Notes Payable, Related Party Notes Payable and Finance Lease Obligations (Details Textual) - USD ($)
 1 Months Ended 12 Months Ended
Jun. 26, 2019
Jan. 15, 2019
Jan. 31, 2020
Oct. 21, 2019
May 31, 2018
Dec. 31, 2020
Dec. 31, 2019
May 31, 2020
Apr. 04, 2018
Mar. 29, 2018
Notes Payable and Capital Lease Obligations (Textual)                    
Loan and security agreement, description           The Company entered into the First Amendment to Loan and Security Agreement ("First Amendment"). The terms of the agreement increase the Term Loan to $5,685,000. The repayment terms of the term loan were amended to provide monthly principal installments in the amount of $67,679 beginning on December 1, 2020, with a final payment of any unpaid balance of principal and interest payable on December 30, 2022. Additionally, the date by which certain subordinated third-party notes need to be extended by was changed from September 30, 2020 to November 30, 2020. The Company has paid an amendment fee of $20,000.        
Aggregate commission received           4.00%        
Related party advances and notes payable, net of debt discounts           $ 6,012,000      
Aggregate principal amount           $ 1,600,000        
Subordinated notes maturity date Jun. 30, 2020                  
Extended date Jul. 01, 2023                  
Issuance of common stock, shares 37,500   419,597              
Notes payable percentage           18.00%        
Proceeds from related party debt           $ 1,500,000      
Interest rate           0.00% 12.00%      
Loan obligation           $ 48,000        
Unpaid due date           Jul. 20, 2026        
Michael Taglich [Member]                    
Notes Payable and Capital Lease Obligations (Textual)                    
Common stock purchased, shares             150,000      
Advanced from related parties $ 250,000                  
Notes payable percentage 12.00%                  
Proceeds from related party debt       $ 1,000,000            
Michael Taglich [Member] | Robert [Member]                    
Notes Payable and Capital Lease Obligations (Textual)                    
Advanced from related parties                 $ 100,000 $ 1,000,000
Robert [Member]                    
Notes Payable and Capital Lease Obligations (Textual)                    
Common stock purchase price, per share             $ 1.01      
Advanced from related parties $ 250,000                  
Robert and Michael Taglich [Member]                    
Notes Payable and Capital Lease Obligations (Textual)                    
Loan facility, description           From November 23, 2016 through March 21, 2017, the Company received gross proceeds of $4,775,000, of which $1,950,000 were received from Robert and Michael Taglich, from the sale of an equal principal amount of its 8% Subordinated Convertible Notes (the "8% Notes"), together with warrants to purchase a total of 383,080 shares of its common stock, in private placement transactions with accredited investors (the "8% Note Offerings"). In connection with the offering of the 8% Notes, the Company issued 8% Notes in the aggregate principal amount of $382,000 to Taglich Brothers, Inc., placement agent for the 8% Note Offerings, in lieu of payment of cash compensation for sales commissions, together with warrants to purchase a total of 180,977 shares of common stock. Payment of the principal and accrued interest on the 8% Notes are junior and subordinate in right of payment to our indebtedness under the SNB Facility.        
Interest-bearing, description           Interest on the 8% Notes is payable on the outstanding principal amount thereof at the annual rate of 8%, payable quarterly commencing February 28, 2017, in cash, or at the Company's option, in additional 8% Notes, provided that if accrued interest payable on $1,269,000 principal amount of the 8% Notes issued in December 2016 is paid in additional 8% Notes, interest for that quarterly interest payment shall be calculated at the rate of 12% per annum. Upon the occurrence and continuation of an event of default, interest shall accrue at the rate of 12% per annum.        
Interest expense           $ 526,000 $ 446,000      
Interest rate             12.00%      
Convertible notes payable           6,012,000 $ 6,862,000      
Amortization of debt discount           226,000 375,000      
Unamortized debt discounts           $ 0 226,000      
Taglich Brothers, Inc., [Member]                    
Notes Payable and Capital Lease Obligations (Textual)                    
Related party notes payable allocated percentage, description           4% of the purchase price of the 7% Notes        
Convertible Notes Payable, Third Parties [Member]                    
Notes Payable and Capital Lease Obligations (Textual)                    
Accrued interest           $ 58,000 344,000      
Interest expense           $ 141,000 $ 380,000      
Interest rate           8.00%        
Convertible debt, shares issued           426,000 1,831,000      
Share price     $ 1.50     $ 1.35 $ 1.50      
Convertible notes payable           $ 0 $ 2,338,000      
Amortization of debt discount           7,000 135,000      
Total debt amount           $ 580,000 2,245,000      
Subordinated notes, description           As discussed above in connection with the Private Placement of Subordinated Notes due May 31, 2019, together with Shares of Common Stock, a $100,000 note issued to a third party in May 2018 was repaid in January 2020.        
Notes payable and finance lease obligations [Member]                    
Notes Payable and Capital Lease Obligations (Textual)                    
Related party advances and notes payable, net of debt discounts           $ 6,012,000 6,862,000      
Unamortized debt discounts           0 7,000      
Loan obligation           0 $ 385,000      
SBA Loans [Member]                    
Notes Payable and Capital Lease Obligations (Textual)                    
Principal amount               $ 2,414,000    
Interest expense for credit facility           586,000        
Revolving credit loan term amount           $ 16,000,000        
Credit facility expiry date           Dec. 30, 2022        
Interest rate               1.00%    
SNB Bank [Member]                    
Notes Payable and Capital Lease Obligations (Textual)                    
Loan facility, description           The terms of the SNB Facility require that, among other things, the Company maintain a specified Fixed Charge Coverage Ratio of 1.25 to 1.00 at the end of each Fiscal Quarter beginning with the Fiscal Quarter ending March 31, 2020. The Company entered into a new loan facility ("SNB Facility") with Sterling National Bank, ("SNB") expiring on December 30, 2022. The new Loan Facility provides for a $16,000,000 revolving loan ("SNB revolving line of credit") and a term loan ("SNB term loan").      
Interest-bearing, description           Under the terms of the SNB Facility, both the SNB revolving line of credit and the SNB term loan bear an interest rate equal to 30-day LIBOR, plus 2.5% (with a floor of 3.5%). The SNB term loan provided for monthly principal installments in the amount of $45,238, payable on the first business day of each month, beginning on February 1, 2020, with a final payment of any unpaid balance of principal and interest payable on December 30, 2022. In addition, for so long as the SNB term loan remains outstanding, if Excess Cash Flow (as defined) is a positive number for any fiscal year, beginning with the year ending December 31, 2020, we shall pay to SNB an amount equal to the lesser of (i) twenty-five percent (25%) of the Excess Cash Flow for such Fiscal Year and (ii) the outstanding principal balance of the term loan. Such payment shall be made to Lender and applied to the outstanding principal balance of the term loan, on or prior to April 15 of the Fiscal Year immediately following such Fiscal Year.      
Principal amount           $ 21,207,000 $ 16,343,000      
Revolving credit loan debt to SNB           15,649,000 12,543,000      
Term loan amount           $ 5,558,000 $ 3,800,000      
Subordinated notes maturity date             Jul. 01, 2023      
Two Thousand Nineteen [Member]                    
Notes Payable and Capital Lease Obligations (Textual)                    
Interest-bearing, description           Interest on the 2019 Notes is payable on the outstanding principal amount thereof at the rate of one percent (1%) per month, payable monthly commencing June 30, 2018. Upon the occurrence and continuation of a failure to pay accrued interest, interest shall accrue and be payable on such amount at the rate of 1.25% per month; provided that upon the occurrence and continuation of a failure to timely pay the principal amount of the 2019 Note, interest shall accrue and be payable on such principal amount at the rate of 1.25% per month and shall no longer be payable on interest accrued but unpaid. The 2019 Notes are subordinate to the Company's obligations to SNB.        
Principal amount         $ 100,000          
Common stock purchased, shares         18,334   15,000      
Common stock purchase price, per share             $ 1.01      
Common stock warrants to purchase             182,000      
Common stock purchase price         $ 100,000          
Aggregate principal amount         $ 1,200,000          
Subordinated notes maturity date         May 31, 2019   Jun. 30, 2020      
Issuance of common stock, shares         214,762   180,000      
Accrued interest on notes payable         1.25%          
Placement agent fee         4.00%          
Outstanding principal interest         1.00%          
Two Thousand Nineteen [Member] | Michael Taglich [Member]                    
Notes Payable and Capital Lease Obligations (Textual)                    
Aggregate principal amount         $ 100,000          
Issuance of common stock, shares         17,857          
Two Thousand Nineteen [Member] | Robert [Member]                    
Notes Payable and Capital Lease Obligations (Textual)                    
Placement invested percentage         4.00%          
Aggregate principal amount         $ 1,000,000          
Issuance of common stock, shares         178,571          
Total purchase price         $ 1,000,000          
PNC Bank [Member]                    
Notes Payable and Capital Lease Obligations (Textual)                    
Principal amount             $ 15,000,000      
Interest expense             $ 1,860,000      
2019 Notes [Member]                    
Notes Payable and Capital Lease Obligations (Textual)                    
Notes payable percentage             12.00%      
Senior Subordinated Convertible Promissory Notes [Member]                    
Notes Payable and Capital Lease Obligations (Textual)                    
Loan facility, description   The Company issued its 7% senior subordinated convertible promissory notes due December 31, 2020, each in the principal amount of $1,000,000 (together, the "7% Notes"), to Michael Taglich and Robert Taglich, each for a purchase price of $1,000,000. The 7% Notes bear interest at the rate of 7% per annum, are convertible into shares of the Company's common stock at a conversion price of $0.93 per share, subject to the anti-dilution adjustments set forth in the 7% Notes and are subordinate to the Company's indebtedness under the SNB Facility.                
Related party notes payable allocated percentage, description   In connection with the 7% Notes, the Company paid Taglich Brothers, Inc. a fee of $80,000 (4% of the purchase price of the 7% Notes), paid in the form of a promissory note having terms similar to the 7% Notes.