Quarterly report pursuant to Section 13 or 15(d)

SUBORDINATED DEBT (Details Narrative)

v3.21.2
SUBORDINATED DEBT (Details Narrative) - USD ($)
$ in Thousands
 1 Months Ended 9 Months Ended
Nov. 28, 2017
Sep. 30, 2021
Dec. 31, 2020
Aug. 06, 2015
Defined Benefit Plan Disclosure [Line Items]        
Subordinated debt [1]   $ 10,445 $ 10,065  
Accrued interest   $ 4,800 7,100  
Golden Wayford Limited [Member]        
Defined Benefit Plan Disclosure [Line Items]        
Subordinated Convertible Note Promissory Note       $ 10,000
Principal Payment $ 1,000      
Maturity Date Feb. 16, 2016      
Interest rate   5.00%    
Subordinated debt     9,000  
Accrued interest   $ 1,100 $ 1,400  
[1] As of September 30, 2021, the fair value of the subordinated term loan, subordinated debt and senior term loan considered the senior status of the senior term loan (Fortress Credit Agreement), followed by the junior status of the subordinated term loan and subordinated debt. The implied yields of the senior term loan, subordinated term loan and subordinated debt were 12.8%, 18.6% and 17.7%, respectively. As of December 31, 2020, the fair value of the subordinated term loan, subordinated debt and senior term loan considered the senior status of the senior term loan (Fortress Credit Agreement), followed by the junior status of the subordinated term loan and subordinated debt. The senior term loan face value was adjusted for $4.7 million of original issue discounts and $1.4 million of fair value of Series H warrants issued to lenders pursuant to the Fortress Credit Agreement, resulting in the fair value of the senior term loan totaling $37.9 million, with a 12.80% implied yield. The implied yields of the subordinated term loan and subordinated debt were 17.05% and 16.57%, respectively.