Quarterly report pursuant to Section 13 or 15(d)

Bank Debt

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Bank Debt
6 Months Ended
Jun. 30, 2017
Bank Debt/Term Loans [Abstract]  
BANK DEBT

7. BANK DEBT

 

Bank debt as of June 30, 2017 and December 31, 2016 consisted of the following:

 

    June 30,     December 31,  
    2017     2016  
Two lines of credit, monthly principal and interest, ranging from $0 to $1, average interest of 8.4%, guaranteed personally by former owners of subsidiary, maturing July 2018   $ 103     $ 121  
Equipment finance agreement, monthly principal of $1, maturing February 2020     14       -  
    $ 117     $ 121  
Less: Current portion of bank debt     (117 )     (121 )
                 
Long-term portion of bank debt   $ -     $ -  

  

The interest expense associated with the bank debt during the three months ended June 30, 2017 and 2016 amounted to $4 and $3, respectively. The interest expense associated with the bank debt during the six months ended June 30, 2017 and 2016 amounted to $7 and $5, respectively. There are no financial covenants associated with the bank debt.