Quarterly report pursuant to Section 13 or 15(d)

Bank Debt

v3.10.0.1
Bank Debt
9 Months Ended
Sep. 30, 2018
Bank Debt/Term Loans [Abstract]  
BANK DEBT

7. BANK DEBT

 

Bank debt as of September 30, 2018 and December 31, 2017 consisted of the following:

 

    September 30,     December 31,  
    2018     2017  
Two lines of credit, monthly principal and interest, ranging from $0 to $1, average interest of 14.2%, guaranteed personally by principal shareholders of acquired companies, maturing July 2019   $ 211     $ 103  
Equipment finance agreement, monthly principal of $1, maturing February 2020     5       11  
    $ 216     $ 114  
Less: Current portion of bank debt     (216 )     (114 )
                 
Long-term portion of bank debt   $ -     $ -  

 

The interest expense associated with the bank debt during the three months ended September 30, 2018 and 2017 amounted to $8 and $4, respectively. The interest expense associated with the bank debt during the nine months ended September 30, 2018 and 2017 amounted to $18 and $12, respectively. There are no financial covenants associated with the bank debt.