Debt

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Debt

Note E - Debt

Debt obligations consisted of the following as of September 30, 2021 and December 31, 2020 (in thousands):  

Debt instrument	Balance at September 30, 2021
Current Portion:
Debentures	$	146
Other		396
Long-term Portion:
2015 Subordinated Notes		12,786
Total	$	13,328

Debt instrument	Balance at December 31, 2020
Current Portion:
Debentures	$	146
Other		687
Long-term Portion:
2015 Subordinated Notes		12,682
Other		6,197
Total	$	19,712

As of September 30, 2021 and December 31, 2020, the principal amount of our outstanding debt balance was $13.5 and $20.0 million, respectively.

Payroll Protection Program

In May 2020, we entered into promissory notes with Bank of America, NA for aggregate loan proceeds of approximately $6.2 million (collectively, the “Loan”) under the Small Business Administration (the “SBA”) Paycheck Protection Program of the

Coronavirus Aid, Relief and Economic Security Act of 2020 (the “CARES Act”). In September 2021, we received notification that our forgiveness applications were approved. As such, in the quarter ending September 30, 2021, the Loan was extinguished, and a $6.2 million gain was recorded in our condensed consolidated statements of operations and comprehensive income (loss).