Quarterly report pursuant to Section 13 or 15(d)

Notes Payable

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Notes Payable
3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]  
Notes Payable

NOTE 3 – NOTES PAYABLE

 

Notes payable consist of the following:

 

   

March 31,

2021

    December 31,  
    (Unaudited)     2020  
Total Equipment Notes Payable   $ 698     $ 777  
Less Current Portion     247       267  
Notes Payable, long term   $ 451     $ 510  

 

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. The aggregate monthly payments of principal and interest of the outstanding notes payable as of March 31, 2021 is approximately $28 and are due through 2024.