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Notes Payable, Related Party Notes Payable and Finance Lease Obligations (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Schedule of notes payable, related party notes payable and finance lease obligations

		March 31,				December 31,
		2022				2021
		(unaudited)
Revolving credit note payable to Webster Bank (F/K/A Sterling National Bank) (“Webster”)		$	11,555,000			$	12,456,000
Term loan, Webster			3,999,000				4,192,000
Finance lease obligations			251,000				263,000
Loans Payable - financed assets			38,000				39,000
Related party notes payable			6,412,000				6,412,000
Subtotal			22,255,000				23,362,000
Less: Current portion of notes payable, related party notes payable and finance lease obligations			(13,278,000	)			(14,112,000	)
Notes payable, related party notes payable and finance lease obligations, net of current portion		$	8,977,000			$	9,250,000

Schedule of future minimum principal payments for the Webster term loan

For the period ending		Amount
December 31, 2022 (remainder of the year)		$	1,463,000
December 31, 2023			812,000
December 31, 2024			812,000
December 31, 2025			912,000
Webster Term Loan payable			3,999,000
Less: debt issuance costs			(24,000	)
Total Webster Term Loan payable, net of debt issuance costs			3,975,000
Less: Current portion of Webster Term Loan payable			(812,000	)
Total long-term portion of Webster Term Loan payable		$	3,163,000

Schedule of future minimum lease payments

For the period ending		Amount
December 31, 2022 (remainder of the year)		$	44,000
December 31, 2023			58,000
December 31, 2024			58,000
December 31, 2025			58,000
December 31, 2026			59,000
Total future minimum finance lease payments			277,000
Less: imputed interest			(26,000	)
Less: Current portion			(49,000	)
Long-term portion		$	202,000

Schedule of future minimum loan payments

For the period ending		Amount
December 31, 2022 (remainder of the year)		$	7,000
December 31, 2023			9,000
December 31, 2024			9,000
December 31, 2025			9,000
December 31. 2026			4,000
Loans Payable - financed assets			38,000
Less: Current portion			(9,000	)
Long-term portion		$	29,000

Schedule of subordinated principal balance of the notes

		Michael Taglich,				Robert Taglich,				Taglich Brothers,
		Chairman				Director				Inc.				Total
Convertible Subordinated Notes		$	2,666,000			$	1,905,000			$	241,000			$	4,812,000
Subordinated Notes			1,250,000				350,000				-				1,600,000
Total		$	3,916,000			$	2,255,000			$	241,000			$	6,412,000

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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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