RELATED PARTY NOTES PAYABLE

12 Months Ended

Dec. 31, 2022

Related Party Notes Payable

RELATED PARTY NOTES PAYABLE

NOTE 10 – RELATED PARTY NOTES PAYABLE

Related party notes payable, consisted of the following as of December 31:

	2022		2021
In thousands
Note payable –Marin	$	180	$	420
Note payable –Thomet		113		263
Total notes payable		293		683
Less current portion		293		390
Long-term portion	$	-	$	293

For the years ended December 31, 2022 and December 31, 2021, the Company recorded interest expense in connection with these notes in the amount of $8 thousand and $10 thousand, respectively.

Note Payable -Marin

In December 2017, we entered into a $660 thousand, 1.89% annual interest rate note payable (the “Marin Note”) with two individuals from whom we previously acquired their company (in 2014). The Marin Note is payable in 60 monthly principal payments of $20 thousand beginning in October 2018. Accrued interest payable as of December 31, 2022, was $71 thousand. Accrued interest is payable at maturity.

Note Payable – Thomet

In December 2017, we entered into a $750 thousand, zero percent annual interest rate note payable (the “Thomet Note”) with an individual from whom we previously acquired his company (in 2014). The Thomet Note is payable in 60 monthly principal payments of $13 thousand beginning in October 2018.