| Schedule of Components of Debt |
The
components of the Company’s debt consist of the following (in thousands):
Schedule of Components of Debt
| |
|
March 31, 2024 |
|
|
December 31, 2023 |
|
| |
|
Amount |
|
|
Rate |
|
Maturity
date
|
|
Amount |
|
|
Rate |
|
Maturity date
|
| Term loan, net |
|
$ |
3,054 |
|
|
(1) |
|
6/21/2026 |
|
$ |
2,881 |
|
|
(1) |
|
6/21/2026 |
| Line of credit, net |
|
$ |
2,171 |
|
|
(2) |
|
6/21/2025 |
|
$ |
1,741 |
|
|
(2) |
|
6/21/2025 |
| Total debt |
|
|
5,225 |
|
|
|
|
|
|
|
4,622 |
|
|
|
|
|
| Less current portion |
|
|
5,225 |
|
|
|
|
|
|
|
4,622 |
|
|
|
|
|
| Total long-term debt |
|
$ |
— |
|
|
|
|
|
|
$ |
— |
|
|
|
|
|
| (1)
|
Interest
at a fixed rate of 10.00% per annum. |
| (2)
|
Interest
at a variable rate of the daily U.S. Federal Funds Rate plus 250 basis points with an interest rate floor of 5.50% per annum. |
|
The
components of the Company’s debt consist of the following (in thousands):
Schedule of Components of Debt
| |
|
December 31, 2023 |
|
December 31, 2022 |
| |
|
Amount |
|
|
Rate |
|
|
Maturity
date |
|
Amount |
|
|
Rate |
|
|
Maturity
date |
| Term loan, net |
|
$ |
2,881 |
|
|
|
(2) |
|
|
6/21/2026 |
|
$ |
— |
|
|
|
|
|
|
|
| Line of credit, net |
|
|
1,741 |
|
|
|
(3) |
|
|
6/21/2025 |
|
|
11,444 |
|
|
|
(1) |
|
|
10/31/2024 |
| Total debt |
|
|
4,622 |
|
|
|
|
|
|
|
|
|
11,444 |
|
|
|
|
|
|
|
| Less current portion |
|
|
4,622 |
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
| Total long-term debt |
|
$ |
— |
|
|
|
|
|
|
|
|
$ |
11,444 |
|
|
|
|
|
|
|
| (1) |
Interest
at a variable rate of the daily U.S. Federal Funds Rate plus 375 basis points with an interest rate floor of 3.75% per annum. |
| |
|
| (2) |
Interest
at a fixed rate of 10.00% per annum. |
| |
|
| (3) |
Interest
at a variable rate of the daily U.S. Federal Funds Rate plus 250 basis points with an interest rate floor of 5.50% per annum. |
|
| Schedule of Future Debt Maturities |
Future
debt maturities as of March 31, 2024 and for succeeding years are as follows (in thousands):
Schedule of Future Debt Maturities
| Year ending December 31: |
|
|
|
| 2024 |
|
$ |
5,379 |
|
| 2025 |
|
|
— |
|
| 2026 |
|
|
— |
|
| Total |
|
$ |
5,379 |
|
|
Future
debt maturities as of December 31, 2023 and for succeeding years are as follows (in thousands):
Schedule of Future Debt Maturities
| Year ending December 31: |
|
|
|
| 2024 |
|
$ |
5,291 |
|
| 2025 |
|
$ |
— |
|
| 2026 |
|
$ |
— |
|
| Total |
|
$ |
5,291 |
|
|