LONG-TERM DEBT (Tables)

3 Months Ended

Mar. 31, 2020

LONG-TERM DEBT

Schedule of outstanding indebtedness, at face value

	Face Value Debt		Stated Interest Rate	Maturity Date
Credit Facility	$	57,000,000	30-Day LIBOR + 1.35% - 1.95% (1)	November 2023
Total Debt/Weighted-Average Rate	$	57,000,000	2.27%

See Note 15, “Subsequent Events” for a description of the interest rate swap, effective as of April 30, 2020, whereby LIBOR was fixed at 0.48% for approximately $50 million of the outstanding balance on the Company’s revolving credit facility.

Schedule of components of long-term debt

	March 31, 2020				December 31, 2019
	Total		Due Within One Year		Total		Due Within One Year
Credit Facility	$	57,000,000	$	—	$	—	$	—
Loan Costs, net of accumulated amortization		(532,868)		—		—		—
Total Long-Term Debt	$	56,467,132	$	—	$	—	$	—

Schedule of payments applicable to reduction of principal amounts

Year Ending December 31,	Amount
Remainder of 2020	$	—
2021		—
2022		—
2023		57,000,000
2024		—
2025 and thereafter		—
Total Long-Term Debt - Face Value	$	57,000,000

Schedule of interest expense on debt

	Three Months Ended
	March 31, 2020		March 31, 2019
	The Company ($000's)		Predecessor ($000's)
Interest Expense	$	205	$	—
Amortization of Loan Costs		44		—
Total Interest Expense	$	249	$	—
Total Interest Paid	$	164	$	—