Debt (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Debt [Abstract] |
|
| Schedule of Indebtedness to Third Parties |
Indebtedness to third parties consists of the following:
| | |
March 31, | | |
December 31, | |
| | |
2026 | | |
2025 | |
| Current Credit Facility - Revolver | |
$ | 19,283,000 | | |
$ | 17,618,000 | |
| Current Credit Facility - Term Loan | |
| 5,593,000 | | |
| 5,855,000 | |
| Solar Credit Facility | |
| 957,000 | | |
| 971,000 | |
| Finance lease obligations | |
| 726,000 | | |
| 784,000 | |
| Loans Payable - financed assets | |
| 3,000 | | |
| 5,000 | |
| Subtotal | |
| 26,562,000 | | |
| 25,233,000 | |
| Less: Current portion | |
| (25,102,000 | ) | |
| (23,721,000 | ) |
| Long-Term Portion | |
$ | 1,460,000 | | |
$ | 1,512,000 | |
|
| Schedule of Payments Due Under the Term Loan |
The below table shows the timing of payments due
under the Term Loan:
| For the year ending | |
Amount | |
| December 31, 2026 (remainder of year) | |
$ | 5,593,000 | |
| Term Loan payable | |
| 5,593,000 | |
| Less: Current portion of Term Loan payable | |
| (5,593,000 | ) |
| Total long-term portion of Term Loan payable | |
$ | - | |
|
| Schedule of Finance Lease Obligations |
| | |
Three Months Ended | |
| | |
March 31, | | |
March 31, | |
| | |
2026 | | |
2025 | |
| Finance Lease cost: | |
| | | |
| | |
| Amortization of ROU assets | |
$ | 49,000 | | |
$ | 49,000 | |
| Interest on lease liabilities | |
| 14,000 | | |
| 18,000 | |
| Total lease Costs | |
$ | 63,000 | | |
$ | 67,000 | |
| | |
| | | |
| | |
| Other Information: | |
| | | |
| | |
| Cash Paid for amounts included in the measurement lease liabilities: | |
| | | |
| | |
| Financing cash flow from finance lease obligations | |
$ | 58,000 | | |
$ | 54,000 | |
| | |
| | | |
| | |
| Supplemental disclosure of non-cash activity | |
| | | |
| | |
| Acquisition of finance lease asset | |
$ | - | | |
$ | - | |
| | | March 31, | | | December 31, | | | | | 2026 | | | 2025 | | | Weighted Average Remaining Lease Term - in years | | | 3.6 | | | | 4.8 | | | Weighted Average Discount rate - % | | | 7.43 | % | | | 7.44 | % |
|
| Schedule of Future Minimum Finance Lease Payments |
As of March 31, 2026, the aggregate future minimum
finance lease payments, including imputed interest are as follows:
| For the year ending | |
Amount | |
| December 31, 2026 (remainder of year) | |
$ | 193,000 | |
| December 31, 2027 | |
| 190,000 | |
| December 31, 2028 | |
| 190,000 | |
| December 31, 2029 | |
| 190,000 | |
| December 31, 2030 | |
| 75,000 | |
| Total future minimum finance lease payments | |
| 838,000 | |
| Less: imputed interest | |
| (112,000 | ) |
| Less: Current portion | |
| (194,000 | ) |
| Long-term portion | |
$ | 532,000 | |
|
| Schedule of Annual Maturities |
Annual maturities of this loan are as follows:
| For the year ending | |
Amount | |
| December 31, 2026 (remainder of year | |
$ | 3,000 | |
| Loans Payable - financed assets | |
| 3,000 | |
| Less: Current portion | |
| (3,000 | ) |
| Long-term portion | |
$ | - | |
|
| Schedule of Related Party Notes Outstanding |
The Related Party Notes outstanding as of March
31, 2026 and December 31, 2025 consist of:
| | |
Michael
Taglich, | | |
Robert
Taglich, | | |
Taglich
Brothers, | | |
| |
| | |
Director | | |
Director | | |
Inc. | | |
Total | |
| Convertible Subordinated Notes | |
$ | 2,416,000 | | |
$ | 1,905,000 | | |
$ | - | | |
$ | 4,321,000 | |
| Subordinated Notes | |
| - | | |
| 550,000 | | |
| - | | |
| 550,000 | |
| Total | |
$ | 2,416,000 | | |
$ | 2,455,000 | | |
$ | - | | |
$ | 4,871,000 | |
|