Company: ACCS
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001683168-25-008214
Chunk: 18

Company: ACCESS Newswire Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 18
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 and other non-recurring costs 
     214  
     168  
     667  
     362 
  
    Rent 
     93  
     94  
     276  
     278 
  
    Other operating expenses (1) 
     248  
     196  
     582  
     633 
  
    Total operating costs and expenses 
     4,452  
     4,832  
     13,936  
     15,056 
  
    Operating loss 
    $(184) 
    $(604) 
    $(1,110) 
    $(1,997)

(1)Other operating expenses include insurance, travel, reseller commissions, tradeshow expense and other miscellaneous selling, general
and administrative expenses

     18 

Note 8: Credit Agreement

On March 20, 2023 (the “Closing
Date”), the Company entered into a $25 million Credit Agreement (the “Credit Agreement”) with Pinnacle Bank (“Pinnacle”).
Initially, the Credit Agreement provided for the following: (i) term loan facility in an aggregate principal amount of $20 million (the
“Term Loan”), and (ii) revolving line of credit in an up to aggregate principal amount of $5 million (the “Revolving
LOC”), subject to an 85% limit based on the current eligible accounts receivable (as defined in the Credit Agreement).

Pursuant to the terms of
the Credit Agreement, the per annum interest rate of the Term Loan is variable based on the one-month secured overnight financing rate
(“SOFR”) plus 2.35%, subject to a minimum SOFR of 2.00%. However, the Term Loan issued on the Closing Date has a per annum
interest rate of 6.217%, which was fixed with respect to the entire principal amount as a result of an interest rate swap agreement entered
into between the Company and Pinnacle on the Closing Date in accordance with the terms of the Credit Agreement.

Effective June 25, 2024,
the aggregate principal amount of the Revolving LOC was reduced to $1,500,000. The Company currently has no plans to utilize the Revolving
LOC but may do so in the future. If the Company does utilize any funds under the Revolving LOC, the funds will bear interest at a per
annum rate equal to the then current SOFR plus 2.05%.