DEBT (Tables)

6 Months Ended

Jun. 30, 2020

Due under factoring agreement consists of the following (in thousands).

	June 30, 2020			December 31, 2019
Borrowings outstanding	$	2,174		$	1,989
Debt issuance costs, net		(121	)		(166	)
Due under factoring agreement	$	2,053		$	1,823

Long-term Debt

Long-term debt consists of the following (in thousands).

	June 30, 2020		December 31, 2019
Payroll Protection Program note - Dated April 2020. Interest accrues at an annual rate of 1.0%.
Due in monthly installments from November 2020 to April 2022, unless forgiven as described below.	$	1,792	$	-
Equipment notes - Initially recorded in November 2018, in the acquisition of Golden Ridge, at the present value of future payments using a discount rate of 4.8% per year , which we determined approximated the market rate for similar debt with similar maturities as of the date of acquisition. Payable in monthly installments. Expire at dates ranging through 2022.		47		62
Equipment note - Dated December 2019. Due in monthly installments through December 2024.
Interest accrues at the effective discount rate of 9.3% per year .		37		39
Total long term debt	$	1,876	$	101

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details