DEBT	9 Months Ended
Sep. 30, 2019
DEBT [Abstract]
DEBT	NOTE 10. DEBT The margin loan outstanding as of September 30, 2019, was a demand loan collateralized by the investment in the money market fund described in Note 6. It was borrowed under a line of credit which allows us to borrow an amount and at a rate determined at the discretion of the lender. We repaid the $1.2 million borrowing outstanding at September 30, 2019, in October 2019. The note payable to the seller of Golden Ridge, bore interest at an annual rate of 6.8%. Interest was payable monthly. We paid $0.3 million of principal on the note in January 2019. The remaining principal of $0.4 million was payable upon maturity of the note in November 2019. The seller cancelled the note payable in July 2019 in partial settlement of the working capital adjustment receivable from the seller described further in Note 4. Long-term debt consists of equipment notes which expire in 2022. Obligations under these notes were initially recorded in November 2018 when we assumed the debt in connection with our acquisition of Golden Ridge. The debt was initially recorded at the present value of future payments, using a rate of 4.8%, which was determined to approximate market rates for similar debt with similar maturities as of the acquisition date. In October 2019, we entered into a factoring agreement which provides for a $7.0 million credit facility with a lender. We may only borrow to the extent we have qualifying accounts receivable as defined in the agreement. The facility has an initial two-year term and automatically renews for successive annual periods, unless proper termination notice is given. We paid a facility fee upon inception of the agreement of 0.5% on the facility. We will incur recurring fees under the agreement, including a funding fee of 0.5% above the prime rate, in no event to be less than 5.5%, on any advances and a service fee on average net funds borrowed monthly.

NOTE 10. DEBT

The margin loan outstanding as of September 30, 2019, was a demand loan collateralized by the investment in the money market fund described in Note 6. It was borrowed under a line of credit which allows us to borrow an amount and at a rate determined at the discretion of the lender. We repaid the $1.2 million borrowing outstanding at September 30, 2019, in October 2019.

The note payable to the seller of Golden Ridge, bore interest at an annual rate of 6.8%. Interest was payable monthly. We paid $0.3 million of principal on the note in January 2019. The remaining principal of $0.4 million was payable upon maturity of the note in November 2019. The seller cancelled the note payable in July 2019 in partial settlement of the working capital adjustment receivable from the seller described further in Note 4.

Long-term debt consists of equipment notes which expire in 2022. Obligations under these notes were initially recorded in November 2018 when we assumed the debt in connection with our acquisition of Golden Ridge. The debt was initially recorded at the present value of future payments, using a rate of 4.8%, which was determined to approximate market rates for similar debt with similar maturities as of the acquisition date.

In October 2019, we entered into a factoring agreement which provides for a $7.0 million credit facility with a lender. We may only borrow to the extent we have qualifying accounts receivable as defined in the agreement. The facility has an initial two-year term and automatically renews for successive annual periods, unless proper termination notice is given. We paid a facility fee upon inception of the agreement of 0.5% on the facility. We will incur recurring fees under the agreement, including a funding fee of 0.5% above the prime rate, in no event to be less than 5.5%, on any advances and a service fee on average net funds borrowed monthly.