Notes Payable (Tables)

12 Months Ended

Dec. 31, 2021

Notes Payable

Schedule of notes payable

	December 31,
	2021			2020
Note payable to Summit Community Bank (the “Bank”), which matured on September 2021; with monthly payments of approximately $26 of principal and interest fixed at 3.99%; collateralized by the Company’s property, plant, and buildings.	$	—		$	227
Note payable to the Bank, maturing October 2029; with monthly payments of approximately $22 of principal and interest fixed at 3.64% under a Promissory Notes Rate Conversion Agreement; collateralized by all assets of Smith-Carolina Corporation and guaranteed by the Company.		1,812			2,008
Note payable to the Bank, maturing March 2030; with monthly payments of approximately $27 of principal and interest fixed at 3.99%; collateralized by the Company’s property, plant, and buildings.		2,304			2,535
Installment notes, collateralized by certain machinery and equipment maturing at various dates; with monthly payments varying from $0.9 to $3.4 with annual interest rates between 2.90% and 4.50%.		76			166
A revolving line-of-credit evidenced by promissory note with the Bank, with the available amount of $4,000, maturing October 1, 2022, with interest only payments and an initial rate of 3.50% adjustable monthly (3.50% at December 31, 2021). The amount available is based on the lower of the maximum $4,000 or eligible inventory and accounts receivable balances at the financial statement date. The line-of-credit is collateralized by a first lien position on the Company’s accounts receivable and inventory and a second lien position on all other business assets.		—			—
		4,192			4,936
Less current maturities		(468	)		(740	)
	$	3,724		$	4,196

Schedule of maturities of notes payable

Year Ending December 31,
2022	$	468
2023		483
2024		496
2025		511
2026		518
Thereafter		1,716
	$	4,192