Quarterly report pursuant to Section 13 or 15(d)

BANK FINANCING (Details)

v3.19.3
BANK FINANCING (Details)
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2019
Jun. 30, 2019
Sep. 30, 2019
USD ($)
Dec. 31, 2020
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Aug. 31, 2019
USD ($)
Aug. 31, 2019
ILS (₪)
Debt Instrument [Line Items]                
Short term bank credit     $ 10,334,840     $ 5,500,416    
Loans, current     13,318,745     7,705,069    
Loans, long-term     5,856,494     $ 6,360,569    
Revolving Credit Facility                
Debt Instrument [Line Items]                
Revolver, maximum borrowing capacity     $ 15,000,000          
Loans, maturity date     Mar. 11, 2021          
Loans, effective interest rate     5.75%     5.50%    
Loans, current     $ 7,334,840     $ 5,500,416    
Loans, long-term     $ 0     $ 0    
Covenant terms     The Credit Facilities maintain certain reporting requirements, conditions precedent, affirmative covenants and financial covenants. The Company is required to maintain certain financial covenants. The Eighth Amendment to the credit facilities adjusted the financial covenant ratios for the Company’s reporting periods during fiscal year 2019. The amended Maximum Debt to EBITDA ratio of 3.75 to 1.00 for the period ended March 31, 2019, 5.50 to 1.00 for the period ended June 30, 2019, 6.25 to 1.00 for the period ended September 30, 2019, 4.00 to 1.00 for the period ended December 31, 2019 and 3.00 to 1.00 for periods ending after December 31, 2019. The amended Minimum Fixed Charge Coverage Ratio is 1.20 to 1.00 for the period ended March 31, 2019, 1.00 to 1.00 for the periods ended June 30, 2019 and September 30, 2019, and 1.20 to 1.00 for the periods ending after September 30, 2019.          
Maximum Debt to EBITDA ratio 3.75 5.50 6.25          
Minimum Fixed Charge Coverage ratio 1.20 1.00 1.00          
Collateral     The Credit Facilities are secured by the Company’s assets and the assets of the Company’s domestic subsidiaries.          
Revolver B                
Debt Instrument [Line Items]                
Revolver, maximum borrowing capacity     $ 6,000,000          
Loans, maturity date     Feb. 28, 2020          
Loans, effective interest rate     5.50%          
Loans, current     $ 3,000,000          
Loans, long-term     0          
Leumi                
Debt Instrument [Line Items]                
Revolver, maximum borrowing capacity     $ 6,000,000          
Loans, face amount             $ 1,697,313 ₪ 6,000,000
Number of payments     60 months          
Loans, effective interest rate     3.44%          
Loans, current     $ 339,463          
Loans, long-term     $ 1,357,850          
Epsilor Credit Facility                
Debt Instrument [Line Items]                
Revolver, maximum borrowing capacity | ₪               ₪ 4,000,000
Mortgage Loan                
Debt Instrument [Line Items]                
Loans, maturity date     Jun. 01, 2024     Jun. 01, 2024    
Loans, effective interest rate     6.00%     5.75%    
Loans, current     $ 154,464     $ 154,464    
Loans, long-term     2,574,015     $ 2,689,863    
Term Loan A                
Debt Instrument [Line Items]                
Loans, face amount     $ 10,000,000          
Loans, maturity date     Mar. 11, 2021     Mar. 11, 2021    
Loans, effective interest rate     6.00%     5.75%    
Loans, current     $ 2,416,667     $ 2,000,000    
Loans, long-term     1,739,625     $ 3,656,291    
Other Debt Instruments                
Debt Instrument [Line Items]                
Loans, effective interest rate           3.60%    
Loans, current     73,311     $ 50,189    
Loans, long-term     185,004     $ 14,415    
Term Loan B | Mortgage Loan                
Debt Instrument [Line Items]                
Loans, face amount     1,730,895          
Term Loan C | Mortgage Loan                
Debt Instrument [Line Items]                
Loans, face amount     $ 1,358,000          
Minimum | Other Debt Instruments                
Debt Instrument [Line Items]                
Loans, effective interest rate     2.75%          
Maximum | Other Debt Instruments                
Debt Instrument [Line Items]                
Loans, effective interest rate     3.60%          
Forecast | Revolving Credit Facility                
Debt Instrument [Line Items]                
Maximum Debt to EBITDA ratio       3.00 4.00      
Minimum Fixed Charge Coverage ratio       1.20        
Forecast | Revolver B                
Debt Instrument [Line Items]                
Revolver, maximum borrowing capacity         $ 3,000,000      
LIBOR | Leumi                
Debt Instrument [Line Items]                
Debt instrument, basis spread on variable rate     1.69%