Note 10 – Debt

Outstanding debt at December 31, 2015 and 2014 is summarized as follows (in thousands):

	December 31, 2015		December 31, 2014
Current:
Third party debt	$	—	$	525
Related party debt		1,721		2,985
		1,721		3,510
Non-current:
Third party debt		2,500		2,500
Total debt	$	4,221	$	6,010

The Company entered into a loan with an unrelated third party during the second quarter of 2014 for a principal amount of $2.5 million. The loan bears interest at 6% and had an original maturity date of January 15, 2015. In December 2014, the maturity date was extended to January 15, 2016 at the same interest rate and in early 2016 the maturity date was further extended to January 15, 2017 at the same interest rate.

The Company’s Related Party Debt (the “Street Capital Loan”), which is due on demand, was originally entered into in 2003 and accrued interest at 10% per annum compounded quarterly from the date funds were advanced. The Street Capital Loan is secured by the assets of the Company.

In the second quarter of 2014, following Street Capital’s distribution of its ownership interest in HGI to Street Capital shareholders as a dividend in kind, the unpaid balance of the Street Capital Loan began accruing interest at a rate per annum equal to the lesser of the Wall St. Journal (“WSJ”) prime rate + 2.0%, or the maximum rate allowable by law. As of December 31, 2015 and 2014, the interest rate on the loan was 5.50% and 5.25%, respectively. Please see Note 14 for further discussion of transactions with Street Capital.

The third party debt at December 31, 2014 included $0.5 million outstanding under a credit facility provided by a U.S. bank. The credit facility was repaid in full and terminated in March 2015.