Pledged Assets and Debt (Tables)

3 Months Ended

Mar. 31, 2020

Pledged Assets and Debt

Schedule of senior PIK note payable

PIK notes payable at March 31, 2020 and December 31, 2019 consisted of the following:

	March 31, 2020						December 31, 2019
	Principal		Discount		Fair Value		Principal		Discount		Principal
Senior PIK notes, 10.750% interest payable in-kind, due December 2023	$	307,860	$	271,190	$	36,670	$	307,860	$	233,617	$	74,243
		307,860		271,190		36,670		307,860		233,617		74,243
Less current maturities		—		—		—		—		—		—
Long-term portion	$	307,860	$	271,190	$	36,670	$	307,860	$	233,617	$	74,243

Schedule of significant assumptions used in Black Scholes option methodology

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

	March 31,		December 31,
	2020		2019
Risk-free interest rate		0.33%		1.65%
Dividend yield		0.00%		0.00%
Expected volatility		43.00%		39.30%
Expected term (years)		3.70		3.95

Schedule of secured notes payable

Secured notes payable at March 31, 2020, and December 31, 2019, consisted of the following:

	March 31, 2020						December 31, 2019
			Deferred						Deferred
			Issuance		Net				Issuance		Net
	Principal		Costs		Principal		Principal		Costs		Principal
$40,000 Secured note payable, 9.00%, collateralized by all Guarantor Company assets, due June 2023	$	40,000	$	—	$	40,000	$	40,000	$	—	$	40,000
		40,000		—		40,000		40,000		—		40,000
Less current maturities		—		—		—		—		—		—
Long-term portion	$	40,000	$	—	$	40,000	$	40,000	$	—	$	40,000

Schedule of subsidiary note payable

Subsidiary notes payable at March 31, 2020, and December 31, 2019, consisted of the following:

	March 31, 2020						December 31, 2019
			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	$	1,159	$	71,841	$	73,000	$	367	$	72,633
$1,425 Term note, secured, 4.75%, collateralized by financed asset, due November 2024		761		—		761		777		—		777
$1,165 Term note, secured, 4.50%, collateralized by financed asset, due May 2021		938		6		932		954		6		948
		74,699		1,165		73,534		74,731		373		74,358
Less current maturities		129		1		128		128		1		127
Long-term portion	$	74,570	$	1,164	$	73,406	$	74,603	$	372	$	74,231