Note 4 - Debt Obligations |
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| Notes to Financial Statements | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Text Block] |
The following table summarizes our debt obligations outstanding as of March 31, 2026 and December 31, 2025 (in thousands). The table does not include debt obligations of our partially owned subsidiary Clyra Medical (see Note 8, “Debt Obligations of Clyra Medical”).
For the three months ended March 31, 2026, and March 31, 2025, we recorded $188,000 and $93,000 of interest expense related to the coupon interest from our debt obligations, inclusive of Clyra Medical debt obligations. (See Note 8.)
Vehicle loan
On February 7, 2023, we entered a loan agreement with Bank of America for the purchase of a commercial vehicle used in operations totaling $80,000, at 5.29% annual interest which matures March 7, 2029. The loan agreement requires monthly payments of $1,000. As of March 31, 2026, and December 31, 2025, the balance of this loan totals $39,000 and $42,000.
Term Loan
On April 5, 2025, we entered a term loan agreement with American Express for working capital in the principal amount of $50,000, at 7.98% annual interest, which matures April 10, 2028, and requires monthly payments of $2,000. As of March 31, 2026, and December 31, 2025, the balance of this loan totals $35,000 and $39,000.
SBA Program Loans
On June 3, 2020, ONM Environmental received a $217,000 CARES Act Paycheck Protection Program loan from the SBA. On February 7, 2022, it received notice that the SBA had forgiven $174,000 of the loan. ONM Environmental requested reconsideration of the partial-forgiveness determination. As of the date of this report, the SBA has not made a final determination on forgiveness, and no payments are required. As of March 31, 2026, and December 31, 2025, the outstanding balance on this loan totaled $43,000.
In July 2020, ONM Environmental received an Economic Injury Disaster Loan (EIDL) from the SBA in the amount of $150,000. The note has a 3.75% annual interest rate, requires monthly payments of $700, and matures July 2053. As of March 31, 2026, and December 31, 2025, the balance of this loan totaled $140,000 and $141,000.
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