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Debt (Tables)

6 Months Ended

Jun. 30, 2022

Debt [Abstract]

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

		June 30,				December 31,
		2022				2021
		(unaudited)
Revolving loan payable to Webster Bank (F/K/A Sterling National Bank) (“Webster”)		$	13,344,000			$	12,456,000
Term loan, Webster			4,879,000				4,192,000
Finance lease obligations			-				263,000
Loans payable - financed assets			35,000				39,000
Related party subordinated notes payable			6,412,000				6,412,000
Subtotal			24,670,000				23,362,000
Less: Current portion			(14,066,000	)			(14,112,000	)
Long Term Portion		$	10,604,000			$	9,250,000

Schedule of payments due under the term loan

For the period ending		Amount
December 31, 2022 (remainder of the year)		$	357,000
December 31, 2023			714,000
December 31, 2024			714,000
December 31, 2025			3,156,000
Webster Term Loan payable			4,941,000
Less: debt issuance costs			(62,000	)
Total Webster Term Loan payable, net of debt issuance costs			4,879,000
Less: Current portion of Webster Term Loan payable			(714,000	)
Total long-term portion of Webster Term Loan payable		$	4,165,000

Schedule of future minimum loan payments

For the period ending		Amount
December 31, 2022 (remainder of the year)		$	4,000
December 31, 2023			9,000
December 31, 2024			9,000
December 31, 2025			9,000
December 31, 2026			4,000
Loans Payable - financed assets			35,000
Less: Current portion			(9,000	)
Long-term portion		$	26,000

Schedule of amortizing a portion of this subordinated debt

		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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