Notes Payable

3 Months Ended

Mar. 31, 2024

Note 11. Notes Payable

Notes payable at March 31, 2024 and December 31, 2023, were comprised of the following (In thousands):


	Due date	Interest rate			March 31, 2024		December 31, 2023
Bank credit	Renewed every month		7	%		815	$	1,190
Other notes payable	Paid monthly		12	%		292		319
Total notes payable						1,107		1,509
Less: current portion						929		1,309
Notes payable - long-term portion					$	178	$	200

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

GRESHAM WORLDWIDE, INC. 10-Q