Quarterly report pursuant to Section 13 or 15(d)

Note 12 - Notes Payable (Tables)

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Note 12 - Notes Payable (Tables)
9 Months Ended
Sep. 30, 2024
Notes Tables  
Schedule of Debt [Table Text Block]
   

(in thousands)

 
   

September 30,

   

December 31,

 
   

2024

   

2023

 

Promissory note dated July 27, 2021, issued to Arthur Chan, which matured July 26, 2024, and bears interest at a rate of 8.0% per annum.

  $ 2,500     $ 2,500  

Unsecured promissory note dated December 28, 2022 due to a related party. The interest rate on the note is 1.0% and matures on December 28, 2027.

    154       154  

Promissory note dated October 1, 2021, issued to Matthew Guild as part of the SilverStreak Solutions acquisition. The interest rate on the note was 10.0%. The note matures in March 2028.

    261       264  

Promissory note dated October 1, 2021, issued to Sterling Harlan as part of the SilverStreak Solutions acquisition. The interest rate on the note was 10.0%. The note matures in March 2028.

    1,044       1,058  

Secured promissory notes dated March 6, 2023 issued to People's California, LLC, which matures in March 2028 and bears interest at a rate of 10.0% per annum on the first $3.00 million due in December 2023, and 5.0% per annum on the remaining balance through September 2023 and 10.0% per annum thereafter. Payment of the remaining balance is due in March 2028.

          22,200  

Promissory note dated May 1, 2019, assumed by the Company on July 1, 2021 in connection with the purchase of real property, from a related party. The note matures on May 15, 2039 and bears interest at a rate of 9.9% per annum.

    2,753       2,813  

Promissory notes dated May 1, 2024 issued to the shareholders of CPG, at a nominal interest rate.

    761        

Convertible promissory notes dated May 1, 2024 issued to the shareholders of Coastal Pines Group, which mature through May 1, 2028 and bear interest at a rate of 6.0% per annum.

    408        

Convertible promissory notes dated May 1, 2024 issued to the shareholders of Coastal Pines Group, which mature through November 1, 2027 and bear interest at a rate of 7.0% per annum.

    1,306        

Notes payable issued in January 2023, assumed by the Company on May 1, 2024 in connection with the acquisition of CPG, which mature on June 1, 2025 and bear interest at a rate of 10.0% per annum.

    101        

Notes Payable - Promissory Notes

    9,288       28,989  

Vehicle Loans

          7  

Less: Short-Term Debt

    (3,789 )     (22,593 )

Plus: Debt Premium (Discount), net

    (103 )     82  

Net Long-Term Debt

  $ 5,396     $ 6,485