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Debt (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt (Tables) [Line Items] |
Schedule of Indebtedness to Third Parties | Indebtedness to third parties consists of the following:
|  | December 31, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Current Credit Facility – Revolving loan |  | $ | 10,804,000 |  |  | $ | 13,352,000 |
Current Credit Facility – Term loan |  |  | 5,045,000 |  |  |  | 5,396,000 |
Solar Credit Facility |  |  | 393,000 |  |  |  | - |
Finance lease obligations |  |  | 884,000 |  |  |  | 328,000 |
Loans Payable - financed assets |  |  | 22,000 |  |  |  | 30,000 |
Subtotal |  |  | 17,148,000 |  |  |  | 19,106,000 |
Less: Current portion |  |  | (16,036,000 | ) |  |  | (14,477,000 | )
Long-Term Portion |  | $ | 1,112,000 |  |  | $ | 4,629,000 |
Schedule of Annual Maturities | The below table shows the timing of payments due under the Term Loan:
For the year ending |  | Amount |
December 31, 2024 |  | $ | 945,000 |
December 31, 2025 |  |  | 4,143,000 |
Term Loan payable |  |  | 5,088,000 |
Less: debt issuance costs |  |  | (43,000 | )
Total Term Loan payable, net of debt issuance costs |  |  | 5,045,000 |
Less: Current portion of Term Loan payable |  |  | (5,045,000 | )
Total long-term portion of Term Loan payable |  | $ | - |
Schedule of Finance Lease Obligations | The leases have an average imputed interest rate of 7.31% per annum and are payable monthly with the final payments due between September of 2026 and May of 2030.
|  | Year Ended |
|  | December 31, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Finance Lease cost: |  |  |  |  |  |  |  |
Amortization of ROU assets |  | $ | 123,000 |  |  | $ | - |
Interest on lease liabilities |  |  | 50,000 |  |  |  | 2,182 |
Total lease Costs |  | $ | 173,000 |  |  | $ | 2,182 |
Other Information: |  |  |  |  |  |  |  |
Cash Paid for amounts included in the measurement lease liabilities: |  |  |  |  |  |  |  |
Financing cash flow from finance lease obligations |  | $ | 123,000 |  |  | $ | 284,000 |
Supplemental disclosure of non-cash activity |  |  |  |  |  |  |  |
Acquisition of finance lease asset |  | $ | 679,000 |  |  | $ | 350,000 |
Schedule of Lease Term and Discount Rate |
|  | December 31, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Weighted Average Remaining Lease Term - in years |  |  | 5.4 |  |  |  | 4.0 |
Weighted Average Discount rate - % |  |  | 7.31 | % |  |  | 7.48 | %
Schedule of Future Minimum Finance lease Payment | As of December 31, 2023, the aggregate future minimum finance lease payment, including imputed interest are as follows:
For the year ending |  | Amount |
December 31, 2024 |  | $ | 224,000 |
December 31, 2025 |  |  | 224,000 |
December 31, 2026 |  |  | 199,000 |
December 31, 2027 |  |  | 124,000 |
December 31, 2028 |  |  | 124,000 |
Thereafter |  |  | 177,000 |
Total future minimum finance lease payments |  |  | 1,072,000 |
Less: imputed interest |  |  | (188,000 | )
Less: Current portion |  |  | (165,000 | )
Long-term portion |  | $ | 719,000 |
Schedule of Note Holders and the Principal Balance | The Related Party Notes outstanding as of December 31, 2023 consists of:
|  | 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 |  |  | 1,000,000 |  |  |  | 350,000 |  |  |  | - |  |  |  | 1,350,000 |
Total |  | $ | 3,666,000 |  |  | $ | 2,255,000 |  |  | $ | 241,000 |  |  | $ | 6,162,000 |
Loans Payable – Financed Assets [Member] |
Debt (Tables) [Line Items] |
Schedule of Annual Maturities | Annual maturities of this loan are as follows:
For the year ending |  | Amount |
December 31, 2024 |  | $ | 9,000 |
December 31, 2025 |  |  | 9,000 |
December 31, 2026 |  |  | 4,000 |
Loans Payable - financed assets |  |  | 22,000 |
Less: Current portion |  |  | (9,000 | )
Long-term portion |  | $ | 13,000 |

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