Company: AWX
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001437749-25-015162
Chunk: 14

Company: AVALON HOLDINGS CORP
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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31 of each year. The Line of Credit Agreement also contains other nonfinancial covenants, customary representations, warranties and events of default. Avalon was in compliance with the Line of Credit Agreements covenants at March 31, 2025 and December 31, 2024.

During the three months ended March 31, 2025 and 2024, the weighted average interest rate on outstanding borrowings was6.17% and6.27%, respectively.

Obligations under the Company’s term loan agreement at March 31, 2025 and December 31, 2024 consist of the following (in thousands):

                                March 31, 2025                                                                              
                                Gross Amount                    Debt Issuance Costs                 Net Amount              
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  2022 Term Loan Agreement      $                   29,504      $                        ( 424      $               29,080  
  Less current portion                                 644                                ( 60                         584  
  Long-term debt                $                   28,860      $                        ( 364      $               28,496  

                                December 31, 2024                                                                              
                                Gross Amount                       Debt Issuance Costs                 Net Amount              
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  2022 Term Loan Agreement      $                      29,660      $                        ( 439      $               29,221  
  Less current portion                                    635                                ( 60                         575  
  Long-term debt                $                      29,025      $                        ( 379      $               28,646  

For the twelve months ending March 31, future maturities under the Company’s 2022 Term Loan and Line of Credit Agreements are as follows (in thousands):

  2026               644  
  2027             3,884  
  2028               726  
  2029               771  
  2030               818  
  Thereafter      25,861  
  Total           32,704  

Note 10. Income Taxes

During the three months ended March 31, 2025 and 2024, net loss attributable to Avalon Holdings Corporation shareholders was $1.5million and $1.0million, respectively. Avalon recorded a state income tax provision in both the three month periods ended