Pledged Assets and Debt (Tables)

12 Months Ended

Dec. 31, 2019

Pledged Assets and Debt

Schedule of senior PIK note payable

PIK notes payable at December 31, 2019 and December 31, 2018 consisted of the following:

	December 31, 2019						December 31, 2018
	Principal		Discount		Fair Value		Principal		Discount		Fair Value
Senior PIK notes, 10.750% interest payable in-kind, due December 2023	$	307,860	$	233,617	$	74,243	$	276,940	$	216,144	$	60,796
		307,860		233,617		74,243		276,940		216,144		60,796
Less current maturities		—		—		—		—		—		—
Long-term portion	$	307,860	$	233,617	$	74,243	$	276,940	$	216,144	$	60,796

Schedule of significant assumptions used in Black Scholes option methodology

Significant assumptions used in the Black Scholes option price methodology include the following:

	December 31,		December 31,
	2019		2018
Risk-free interest rate		1.65%		2.51%
Dividend yield		0.00%		0.00%
Expected volatility		39.30%		38.90%
Expected term (years)		3.95		4.95

Schedule of senior secured notes payable

Secured Notes payable at December 31, 2019, and December 31, 2018, consisted of the following:

	December 31, 2019						December 31, 2018
			Deferred						Deferred
			Issuance		Net				Issuance		Net
	Principal		Costs		Principal		Principal		Costs		Principal
$42,000 Secured note payable, 9.00%, collateralized by all Guarantor Company assets, due June 2023	$	40,000	$	—	$	40,000	$	42,000	$	—	$	42,000
		40,000		—		40,000		42,000		—		42,000
Less current maturities		—		—		—		—		—		—
Long-term portion	$	40,000	$	—	$	40,000	$	42,000	$	—	$	42,000

Schedule of subsidiary note payable

Subsidiary notes payable at December 31, 2019 and December 31, 2018 consisted of the following:

	December 31, 2019						December 31, 2018
			Deferred						Deferred
			Issuance		Net				Issuance		Net
	Principal		Costs		Principal		Principal		Costs		Principal
$73,000 Note, secured, 16.75%, collateralized by acquired loans, due April 2021	$	73,000	$	367	$	72,633	$	70,000	$	16	$	69,984
$1,425 Term note, secured, 4.75%, collateralized by financed asset, due November 2024		777		—		777		822		—		822
$1,165 Term note, secured, 4.50%, collateralized by financed asset, due May 2021		954		6		948		1,016		—		1,016
		74,731		373		74,358		71,838		16		71,822
Less current maturities		128		1		127		884		—		884
Long-term portion	$	74,603	$	372	$	74,231	$	70,954	$	16	$	70,938

Schedule of maturity for debt arrangements

The five year maturity for all debt arrangements as of December 31, 2019 consisted of the following:

			Twelve months ending December 31,
	Total		2020		2021		2022		2023		2024		Thereafter
Senior PIK notes
Principal	$	307,860	$	—	$	—	$	—	$	307,860	$	—	$	—
Total senior PIK notes		307,860		—		—		—		307,860		—		—
Borrowings under secured notes
Principal		40,000		—		—		—		40,000		—		—
Total borrowings under secured notes		40,000		—		—		—		40,000		—		—
Subsidiary note payable
Principal		74,731		128		73,958		72		72		501		—
Total subsidiary note payable		74,731		128		73,958		72		72		501		—
Total	$	422,591	$	128	$	73,958	$	72	$	347,932	$	501	$	—