XML 21 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Note 2 - Debt
 12 Months Ended
Apr. 30, 2020
Notes to Financial Statements  
Debt Disclosure [Text Block]
2.
DEBT:
 
Principal amounts of debt at
April 30, 2020
and
2019
, consist of the following (in thousands):
 
Promissory Notes
  
2020
    
2019
  
                 
Bank line of credit, available LOC $5.0 million interest at 3.4% due on demand, collateralized by a first and second position on all assets of the Company.
    
-
      
-
  
    $ -     $ -  
                 
Long-Term Debt
      
 
      
 
Note payable, interest at 5.75% paid off in 2020.
   $
-
     $
119
  
                 
Note payable, interest at 6.25% due January 2023, collateralized by an Aircraft Security Agreement.
    
1,706
      
2,239
  
                 
Note payable, interest at 6.25%, due June 2024, collateralized by real estate.
    
224
      
241
  
                 
Note payable, interest at 4.89% due May 2020, collateralized by all of BNSC's assets and compensation due under the State Management contract.
    
104
      
1,313
  
                 
Notes payable, interest at 4.5%, due April 2022, collateralized by equipment.
    
42
      
63
  
                 
Note payable, interest at Libor plus 1.75% due March 2029, collateralized by real estate.
    
1,426
      
-
  
                 
Note payable, interest at Libor plus 1.75% due March 2029 collateralized by real estate.
    
654
      
-
  
                 
Paycheck Protetction Program loans, these loan advances were received for the aerospace segment. In May 2020 the Company returned these loan proceeds.
    
1,283
      
-
  
                 
     
5,439
      
3,975
  
Less: Current maturities
    
2,228
      
1,899
  
    $
3,211
     $
2,076
  
  
Maturities of long-term debt are as follows:
 
 
Year Ending April 30
  
Amount
  
2021
   $
2,228
  
2022
    
881
  
2023
    
790
  
2024
    
257
  
2025
    
259
  
Thereafter
    
1,024
  
    $
5,439