Quarterly report pursuant to Section 13 or 15(d)

DEBT

v3.23.2
DEBT
 6 Months Ended
Jun. 30, 2023
DEBT  
Debt

8. DEBT

 

Debt at June 30, 2023 and December 31, 2022, was comprised of the following:

 

 

 

June 30,

 

 

December 31,

 

(in thousands)

 

2023

 

 

2022

 

Current portion of long-term debt

 

 

 

 

 

 

Vehicle loans(1)

 

 $ 8

 

 

 $ 15

 

Mortgage payable(2)

 

 

 -

 

 

 

 257

 

Note payable

 

 

 -

 

 

 

 10

 

Convertible debenture(3)

 

 

 21,854

 

 

 

 21,398

 

Total short-term debt

 

 

 21,862

 

 

 

 21,680

 

 

 

 

 

 

 

 

 

 

Long-term debt, net

 

 

 

 

 

 

 

 

Vehicle loans(1)

 

 

 1

 

 

 

 3

 

Mortgage payable(2)

 

 

 -

 

 

 

 8,713

 

Total long-term debt

 

 

 1

 

 

 

 8,716

 

Total Indebtedness

 

 $ 21,863

 

 

 $ 30,396

 

______________________

 

 

 

 

 

 

 

 

(1) Primarily fixed term loans on transportation vehicles. Weighted average interest rate at June 30, 2023 and December 31, 2022 was 6.3% and 6.4%, respectively.

(2) Mortgage payable associated with the acquired processing facility. Weighted average interest rate at December 31, 2022 was 12.5%,. Net of deferred financing costs as of December 31, 2022 $296.

(3) Net of deferred financing costs at June 30, 2023 and December 31, 2022 of $303 and $759, respectively.

 

Stated maturities of debt obligations are as follows as of June 30, 2023:

 

 

 

June 30,

 

(in thousands)

 

2023

 

Balance of 2023

 

 $ 22,166

 

2024

 

 

 1

 

Total debt obligations

 

 $ 22,167