Debt (Tables)

9 Months Ended

Sep. 30, 2022

The components of the Company’s debt consist of the following (in thousands):


		September 30, 2022			December 31, 2021
	Maturity Date	Amount		Rate	Amount		Rate
Term loan, net	1/6/2024	$	4,777	(1)	$	5,414	(2)
Line of credit, net	1/6/2024	7,375		(1)	4,856		(2)







Total debt		12,152			10,270
Less current portion		1,922			855
Total long term debt		$	10,230		$	9,415

(1)Interest at a variable rate of the daily Federal Funds Rate plus 285 basis points with an interest rate floor of 2.50% per annum.

(2)Interest at a variable rate of LIBOR plus 250 basis points with an interest rate floor of 2.50% per annum.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details