Company: AWX
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001437749-25-015162
Chunk: 11

Company: AVALON HOLDINGS CORP
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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  Total finance lease cost      $                       161      $         146  

For the twelve months ending March 31, future commitments under long-term, operating and finance leases are as follows (in thousands):

                                                         Finance      Operating       Total  
 ─────────────────────────────────────────────────────────────────────────────────────────────
  2026                                                      $303           $445        $748  
  2027                                                       270            425         695  
  2028                                                       227            326         553  
  2029                                                       170            221         391  
  2030                                                        88            164         252  
  Thereafter                                                 345              -         345  
  Total lease payments                                     1,403          1,581       2,984  
  Less: imputed interest                                     359            190         549  
  Total                                                    1,044          1,391       2,435  
  Less: current portion of obligations under leases          232            364         596  
  Long-term portion of obligations under leases             $812         $1,027      $1,839  

Note 8. Basic and Diluted Net Loss per Share

Basic net loss per share attributable to Avalon Holdings Corporation common shareholders is computed by dividing the net loss by the weighted average number of common shares outstanding. For both the three months ended March 31, 2025 and 2024, the weighted average number of common shares outstanding was3,899,431.

Diluted net loss per share attributable to Avalon Holdings Corporation common shareholders is computed by dividing net loss attributable to Avalon Holdings Corporation common shareholders by the weighted average number of common shares outstanding plus any weighted common equivalent shares determined to be outstanding during the period using the treasury method. Any weighted common equivalent shares included in the calculation are related to stock options granted by Avalon where the weighted average market price of Avalon’s common stock for the period presented is greater than the option exercise price of the stock option.

For both the three months ended March 31, 2025 and 2024 there wasnooutstanding options, therefore, no dilution.

Note 9. Term Loans and Line of Credit Agreements

2022 Term Loan Agreement

On August 5, 2022, Avalon and certain direct and indirect wholly owned subsidiaries entered into a loan and security agreement (the “2022 Term Loan Agreement”) with Laurel Capital Corporation which provided for a $