XML 35 R22.htm IDEA: XBRL DOCUMENT v3.25.1
Debt (Tables)
 3 Months Ended
Mar. 31, 2025
Debt [Abstract]  
Schedule of Long-Term Debt A summary of the Company’s long-term debt is as follows in (“000’s”):
   March 31,
2025		   December 31,
2024		 
Long-term Debt        
Note payable to BP Peptides, LLC “Brookstone”. The unsecured loan bears interest at 6% per annum, with interest earned quarterly and the amended maturity date is June 30, 2026. As of March 31, 2025 and December 31, 2024, the balance includes $27.0 thousand and $17.0 thousand of accrued interest, respectively.  $827   $817 
Mezzanine term loan to Steam Finance, LLC, collateralized by substantially all of TotalStone’s assets and subordinated to the Bank term notes. Interest accrues at 14% per annum, with 2% paid in kind, and a maturity date of September 30, 2026. On March 7, 2025, TotalStone’s Special Preferred Membership Interests were converted to term debt in the aggregate principal amount of $1,143,646 and is included in this amount. At March 31, 2025 and December 31, 2024, $299.0 thousand and $243.0 thousand of accrued interest remains unpaid and is included within this amount, respectively.   2,754    1,558 
Seller’s note with Avelina Masonry, LLC, which required monthly payments of $48.0 thousand. The original maturity date was November 13, 2022 but the loan has not been paid in full and is in default. The loan bears interest at one-month SOFR plus 4.5% plus 3.0% default (11.94% and 12.14% at March 31, 2025 and December 31, 2024, respectively. At March 31, 2025 and December 31, 2024, $193.0 thousand and $165.0 thousand of accrued interest remains unpaid and is included within this amount, respectively.   960    932 
Term note agreement with Berkshire Bank, due in 48 consecutive monthly payments of $83.0 thousand. The term note was paid in full on March 10, 2025.  The loan was secured by all assets of TotalStone. Interest was charged at the one- month SOFR plus 3.5% (8.19% at December 31, 2024).   
—
    910 
In December 2022, TotalStone sold its facility in Navarre, Ohio to a nonaffiliated third party for a purchase price of $3.2 million and concurrently entered into a leaseback transaction. The transaction is treated as a failed sale in accordance with U.S. GAAP. The Company therefore recorded a financing liability related to the sale-leaseback in the amount of the sale price. The obligation matures in January 2048 and requires monthly payments of principal and interest. With the sale leaseback, TotalStone signed a lease agreement with a 25-year lease term. The initial annual lease payment of $259.0 thousand increases 2% per annum. The imputed interest rate is 8.10%.   3,171    3,174 
Unsecured promissory note with Brookstone plus accrued interest to acquire a minority interest in DPH. Interest accrues at 6% per annum and the maturity date is June 30, 2026.  At March 31, 2025 and December 31, 2024 $265.0 thousand and $253.0 thousand of accrued interest remains unpaid and is included within this amount, respectively.   1,065    1,053 
    8,777    8,444 
Less: current portion   (973)   (1,855)
Less unamortized loan origination fees   (263)   (266)
Total Long-term debt  $7,541   $6,323 
Schedule of Maturities of Long-Term

Scheduled maturities of long-term as of March 31, 2025, are as follows:

 

2025  $973 
2026   4,666 
2027   27 
2028   35 
2029   44 
Thereafter   3,032 
Total  $8,777