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Long-Term Debt (Tables)
6 Months Ended
Jun. 30, 2015
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt

Long-term debt consists of the following (in thousands):

 

    June 30, 2015     December 31, 2014  
    (Unaudited)        
                 
Promissory note payable to LSVI, unsecured, interest of 10% per annum payable semi-annually in July and January, with any unpaid principal and interest due on April 1, 2019   $ 5,000     $ 5,000  
                 
Promissory notes payable to LSV Co-Invest I, unsecured, interest of 10% per annum payable semi-annually in July and January, with any unpaid principal and interest due on April 1, 2019     4,500       4,500  
                 
Promissory note payable to LSVI, unsecured, interest of 10% per annum payable semi-annually in July and January, with any unpaid principal and interest due on April 1, 2019 (1)     1,000       —  
                 
Promissory note payable, unsecured, interest imputed at 9.5% (2)     2,274       —  
                 
Notes payable, secured by equipment, interest rates from 5.0% to 9.5%, with varying maturity dates through September 2018     61       87  
                 
Total long-term debt     12,835       9,587  
Current portion     (1,075 )     (45 )
Noncurrent portion   $ 11,760     $ 9,542  

 

  (1) On February 25, 2015, in order to provide additional working capital to ATRM, we entered into a Securities Purchase Agreement with LSVI pursuant to which it purchased for $1.0 million in cash, an unsecured promissory note made by ATRM in the principal amount of $1.0 million.
     
  (2) Promissory note payable to the principal seller of KBS, payable in monthly installments of $100,000 through July 2017 (see Note 13).