Annual report pursuant to Section 13 and 15(d)

Term Loan Agreements and Long Term Debt (Tables)

v3.10.0.1
Term Loan Agreements and Long Term Debt (Tables)
 12 Months Ended
Dec. 31, 2018
Term Loan Agreements and Long-Term Debt  
Schedule of Term Loan Agreement and Long Term Debt

 

 

 

 

 

 

 

 

 

    

December 31,

    

December 31,

    

 

 

2018

 

2017

 

 

 

 

 

 

 

 

 

Term Loan Agreement with MidCap Financial Trust (“MidCap”) for a total of $21,000, net of $554 unamortized deferred financing fees at December 31, 2017. Interest was payable monthly at 8.0% per annum plus the greater of LIBOR or 0.5%.  As of December 31, 2018, the Term Loan was paid in full.

 

$

 —

 

$

20,446

 

 

 

 

 

 

 

 

 

Revolving Loan Agreement with MidCap for up to $10,000 with borrowings based upon eligible accounts receivable and inventory. Interest was payable monthly at 4.5% per annum plus the greater of LIBOR or 0.5%.  As of December 31, 2018, the Revolving Loan was paid in full.

 

 

 —

 

 

4,000

 

 

 

 

 

 

 

 

 

Equipment Lease Agreement with Cisco Capital for a total lease amount of $59 which has a 36 month term and requires no lease payments for the first three months of the lease and 33 equal payments of principal and interest until the end of the term.  Interest on the lease is payable monthly at 3.5% per annum.

 

 

15

 

 

37

 

 

 

 

 

 

 

 

 

Equipment Lease Agreement with Raymond Leasing Corporation for a total lease amount of $30 which has a 48 month term with equal payments for principal and interest until the end of the term.  Interest on the lease is payable monthly at 6.7% per annum.

 

 

22

 

 

30

 

 

 

 

 

 

 

 

 

Equipment Lease Agreement with B&B Office Systems for a total lease amount of $32 which has a 60 month term with equal payments for principal and interest until the end of the term.  Interest on the lease is payable monthly at 8.5% per annum.

 

 

26

 

 

32

 

Total

 

 

63

 

 

24,545

 

Less current revolving loan

 

 

 —

 

 

(4,000)

 

Less current maturities of long-term debt

 

 

(28)

 

 

(735)

 

Long-term portion

 

$

35

 

$

19,810

 

 

Schedule of annual maturities of long -term debt

 

 

 

 

Year Ending December 31

    

Amount

2019

 

$

28

2020

 

 

13

2021

 

 

15

2022

 

 

 7

TOTAL

 

$

63