Long Term Debt (Tables)

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Schedule of Long Term Debt

Long-term debt consists of the following:

(Amounts in Thousands)	September 30, 2023			December 31, 2022
Revolving Credit facility dated May 8, 2020, borrowings based upon eligible accounts receivable, subject to monthly borrowing base calculation, balance due on May 15, 2027. Effective interest rate for first nine months of 2023 was 9.7%. (1)	$	-		$	-
Term Loan 1 dated May 8, 2020, payable in equal monthly installments of principal, balance due on May 15, 2027. Effective interest rate for first nine months of 2023 was 9.1% (1)		320			640
Term Loan 2 dated July 31, 2023, payable in equal monthly installments of principal, balance due on May 15, 2027. Effective interest rate for first nine months of 2023 was 9.9% (1)		2,458			-
Capital Line dated May 4, 2021, payable in equal monthly installments of principal, balance due on May 15, 2027. Effective interest rate for first nine months of 2023 was 8.5% (1)		384			463
Debt Issuance Costs		(182	)(2)		(88	)(2)
Notes Payable to 2023 and 2025, annual interest rate of 5.6% and 9.1%.		15			24
Total debt		2,995			1,039
Less current portion of long-term debt		880			476
Long-term debt	$	2,115		$	563

(1)	Our revolving credit facility is collateralized by our accounts receivable, and our term loans and capital line are collateralized by our property, plant, and equipment.
(2)	Aggregate unamortized debt issuance costs in connection with the Company’s credit facility, which consists of the Revolving Credit Facility, Term loan 1, Term loan 2 and Capital Line, as applicable.