Note 9 - Debt and Other Financing Arrangements

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Debt Disclosure [Text Block]

9. Debt and Other Financing Arrangements

On

March 20, 2014,

the Company entered into an equipment financing arrangement (“Loan Agreement”) with Banc of America Leasing & Capital, which it amended on

August 8, 2014,

September 15, 2015

and

October 30, 2017.

The terms of the arrangement are detailed in the

10

-K.

The weighted average interest rate on outstanding debt under the Loan Agreement was

3.8%

and

3.6%

for the

three

months and

six

months ended

June 30, 2018,

respectively. The interest expense was

$28

thousand and

$56

thousand for the

three

months and

six

months ended

June 30, 2018,

respectively. As of

June 30, 2018,

the interest rate was

3.9%

and there was

$2.9

million of outstanding debt related under the loan agreement. The Company was in compliance with all loan covenants as of

June 30, 2018.

The annual principal repayment requirements for debt obligations as of

June 30, 2018

were as follows (in

000’s

):

2018	$	479
2019		891
2020		702
2021		446
2022		381
Total long-term debt		2,899
Less current portion of long-term debt		(957	)
Total long-term debt, net of current portion	$	1,942