Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2022

Long-Term Debt.

Schedule of long-term debt

	December 31,		December 31,
	2022		2021
	($000's omitted)
Line of credit payable to a financial institution; Interest rate is the BSBY Daily Floating Rate (A)	$	—	$	4,250
Equipment note obligations; Interest rate fixed for term of each funding based upon the Lender's lease pricing at time of funding. (Interest rate/factor 1.79553% - 1.835015% as of December 31, 2022) (B)		491		712
Equipment financing lease obligations; Interest rate fixed for term of each funding based upon the Lender's lease pricing at time of funding. (Interest rate/factor 1.822758% - 1.869304% at time of funding) (C)		10		64
		501		5,026
Less current portion		(501)		(276)
Long term debt	$	—	$	4,750

A.) The Company had a $6,000,000 line of credit (LOC). The interest rate is a rate per year equal to the sum of (i) the greater of the Bloomberg’s Short-term Bank Yield (BSBY) Daily Floating Rate or the Index Floor, plus (ii) 1.65 percentage point(s). For purpose of this paragraph “Index Floor” means 0.5%. In addition, the Company is required to pay a commitment fee of 0.25% on the unused portion of the line of credit. The line of credit expires December 31, 2023.

Schedule of payments for capital lease obligations

	Year ending December 31, ($000's omitted)
	2023		532
Total principal and interest payments			532
Less amount representing interest			(31)
Present value of net minimum lease payments			501
Less current portion			(501)
Long term principle payments		$	—