Quarterly report pursuant to Section 13 or 15(d)

Notes Payable

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Notes Payable
6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Notes Payable

NOTE 3 – NOTES PAYABLE

 

Notes payable consist of the following:

 

    June 30, 2020     December 31,  
    (Unaudited)     2019  
Total Equipment Notes Payable   $ 942     $ 1,106  
Less Current Portion     315       328  
Notes Payable, long term   $ 627     $ 778  

 

The Company has entered into several financing agreements for the purchase of equipment. The terms of these financing arrangements are for a term of 2 years to 5 years, with interest rates ranging from 1.9% to 6.9% per annum, secured by the purchased equipment. Aggregate monthly payments of principal and interest of approximately $29 are due through 2023.