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FINANCING ARRANGEMENTS (Tables)
12 Months Ended
Dec. 31, 2018
FINANCING ARRANGEMENTS  
Summary of long-term debt balances

 

Long-term debt balances at December 31, 2018 and 2017 consisted of the following (in thousands):

 

 

 

 

 

 

 

 

 

    

December 31, 

    

December 31, 

(in thousands)

    

2018

    

2017

Term note payable - Bank of America

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate term note bearing interest at one-month LIBOR + 2.25% (4.8% and 4.5% as of December 31, 2018 and 2017, respectively) maturing June 15, 2022 with monthly payments of approximately $41,000 plus interest secured by substantially all assets.

 

$

4,253

 

$

4,751

 

 

 

 

 

 

 

Devicix Acquistion Note 1 payable to DeLange Holdings bears interest rate of 4.0% per annum, maturing July 1, 2019.

 

 

156

 

 

394

 

 

 

 

 

 

 

Devicix Acquistion Note 2 payable to DeLange Holdings bears interest rate of 4.0% per annum, maturing July 1, 2019.

 

 

203

 

 

512

 

 

 

4,612

 

 

5,657

Discount on Devicix Notes Payable

 

 

(23)

 

 

(63)

Debt issuance Costs

 

 

(185)

 

 

(238)

Total long-term debt

 

 

4,404

 

 

5,356

Current maturities of long-term debt

 

 

(780)

 

 

(1,003)

Long-term debt - net of current maturities

 

$

3,624

 

$

4,353

 

Schedule of future maturity requirements for long-term debt

 

 

 

 

 

Years Ending December 31,

    

Amount

2019

 

$

857

2020

 

 

498

2021

 

 

498

2022

 

 

2,759

 

 

$

4,612

 

Schedule of future minimum non-cancelable capital leases

 

Approximate future minimum lease payments under non-cancelable capital leases subsequent to December 31, 2018 are as follows:

 

 

 

 

 

Years Ending December 31,

    

Amount

2019

 

$

398

2020

 

 

398

2021

 

 

398

2022

 

 

211

2023

 

 

 2

Total noncancelable future lease commitments

 

$

1,407

Less: interest

 

 

(119)

Present value of obligations under capital leases

 

$

1,288