NOTES PAYABLE - BANKS (Tables)

12 Months Ended

Sep. 30, 2022

First Merchants Bank Credit Facility [Member]

Debt Instrument [Line Items]

Schedule of Debt

Indco was in compliance with the financial covenants defined in the First Merchants Credit Agreement at both September 30, 2022 and September 30, 2021 (in thousands).

	September 30,
	2022			2021
Total Debt*	$	6,051		$	3,368
Less Current Portion		(574	)		(809	)
Long-term Portion	$	5,477		$	2,559

* Note: Term Loan is due in monthly installments of $46 plus monthly interest, at SOFR plus 2.75% to 3.5% per annum, mortgage loan is due in monthly installments of $4, including interest at 4.19%. The credit facilities are collateralized by all of Indco’s assets and guaranteed by Janel.

Maturities of Long-term Debt

These obligations mature as follows (in thousands):

Fiscal Year 2023	$	574
Fiscal Year 2024		575
Fiscal Year 2025		1,133
Fiscal Year 2026		550
Fiscal Year 2027		3,219
	$	6,051

First Northern Bank of Dixon [Member]

Debt Instrument [Line Items]

Schedule of Debt

As of September 30, 2021, the total amount outstanding under the First Northern Solar Loan was $105, of which $101 is included in long-term debt and $4 is included in the current portion of long-term debt, with interest accruing at an effective interest rate of 4.43%.

	September 30,
	2022			2021
	(in thousands)
Total Debt*	$	2,107		$	2,244
Less Current Portion		(65	)		(59	)
Long-term Portion	$	2,042		$	2,185

* Long-term debt is due in monthly installments of $12 plus monthly interest, at 4.18% per annum. The note is collateralized by real property owned by Antibodies and guaranteed by Janel.

Maturities of Long-term Debt

These obligations mature as follows (in thousands):

Fiscal Year 2023	$	66
Fiscal Year 2024		68
Fiscal Year 2025		70
Fiscal Year 2026		66
Fiscal Year 2027		69
Thereafter		1,768
	$	2,107