Quarterly report pursuant to Section 13 or 15(d)

Notes Payable and Revolving Credit Facility (Tables)

v3.10.0.1
Notes Payable and Revolving Credit Facility (Tables)
 9 Months Ended
Sep. 30, 2018
Debt Instrument [Line Items]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]
The Company’s notes payable, net, includes two loans: (1) the Cantor Loan and (2) the West Mifflin Note, described below. The following table sets forth the aggregate balances of these loans as of the dates presented:
 
 
 
September 30, 2018
 
 
December 31, 2017
 
Notes payable, gross
 
$
39,475
 
 
$
39,475
 
Less: Unamortized debt discount
 
 
(832
)
 
 
(930
)
Notes payable, net
 
$
38,643
 
 
$
38,545
 
Schedule Of Pricing Matrix For Revolver And Term Loan [Table Text Block]
The following table presents the pricing matrix for the Revolver and the Term Loan:
 
Total Leverage

Ratio
 
Revolver LIBOR

Margin
 
 
Revolver Base

Rate Margin
 
 
Term Loan

LIBOR Margin
 
 
Term Loan Base

Rate Margin
 
≤
45
%
 
 
1.40
%
 
 
0.40
%
 
 
1.35
%
 
 
0.35
%
›
45
% and ≤
50
%
 
 
1.65
%
 
 
0.65
%
 
 
1.60
%
 
 
0.60
%
›
50
% and ≤
55
%
 
 
1.90
%
 
 
0.90
%
 
 
1.85
%
 
 
0.85
%
›
55
%
 
 
2.15
%
 
 
1.15
%
 
 
2.10
%
 
 
1.10
%
Schedule of Line of Credit Facilities [Table Text Block]
As of September 30, 2018 and December 31, 2017, the Company had the following outstanding borrowings under the Credit Facility:
 
 
 
September 30, 2018
 
 
December 31, 2017
 
Revolver
 
$
197,400
 
 
$
164,900
 
Term Loan
 
 
100,000
 
 
 
-
 
Less: Unamortized deferred financing costs
 
 
(4,127
)
 
 
(2,750
)
Credit Facility, net
 
$
293,273
 
 
$
162,150
 
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]
The table below details the components of the loss presented on the accompanying Consolidated Statements of Comprehensive Income (Loss) recognized on the Company’s interest rate swap agreement designated as a cash flow hedge for the three and nine months ended September 30, 2018 and 2017:
 
 
 
Three Months Ended
September 30,
 
 
Nine Months Ended
September 30,
 
 
 
2018
 
 
2017
 
 
2018
 
 
2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amount of loss recognized in other comprehensive loss
 
$
122
 
 
$
-
 
 
$
122
 
 
$
-
 
Amount of loss reclassified from accumulated other comprehensive loss into interest expense
 
 
(13
)
 
 
-
 
 
 
(13
)
 
 
-
 
Total change in accumulated other comprehensive loss
 
$
109
 
 
$
-
 
 
$
109
 
 
$
-
 
Cantor Loan [Member]  
Debt Instrument [Line Items]  
Schedule of Maturities of Long-term Debt [Table Text Block]
As of September 30, 2018, scheduled principal payments due for each fiscal year ended December 31 are listed below as follows:
 
2018
 
$
-
 
2019
 
 
-
 
2020
 
 
-
 
2021
 
 
315
 
2022
 
 
449
 
Thereafter
 
 
31,333
 
Total
 
$
32,097
 
West Mifflin Note Payable [Member]  
Debt Instrument [Line Items]  
Schedule of Maturities of Long-term Debt [Table Text Block]
As of September 30, 2018, scheduled principal payments due for each fiscal year ended December 31 are listed below as follows:
 
2018 (three months remaining
 
$
22
 
2019
 
 
136
 
2020
 
 
7,220
 
Total
 
$
7,378