RELATED PARTY NOTES PAYABLE

12 Months Ended

Dec. 31, 2023

Related Party Notes Payable

RELATED PARTY NOTES PAYABLE

NOTE 11 – RELATED PARTY NOTES PAYABLE

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

	2023		2022
In thousands
Note payable – Marin	$	-	$	180
Note payable – Thomet				113
Total notes payable, related parties	$	-	$	293

The remaining balances were paid in full during the year ended December 31, 2023. For the years ended December 31, 2023 and 2022, the Company recorded interest expense in connection with these notes in the amount of $1 thousand and $8 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 was payable in 60 monthly principal payments of $20 thousand beginning in October 2018. Accrued interest payable as of December 31, 2023 and 2022, was $73 thousand and $72 thousand, respectively. Accrued interest was 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 was payable in 60 monthly principal payments of $13 thousand beginning in October 2018.