Company: PDEX
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001079973-25-000729
Chunk: 15

Company: PRO DEX INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 15
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 accounts payable	 
    $5,962  
     100% 
    $4,513  
     100%

    Supplier concentration: 

    Supplier 1 
    $1,995  
     34% 
    $1,405  
     31%
  
    Supplier 2 
     652  
     11% 
     416  
     9%
  
    Supplier 3 
     430  
     7% 
     371  
     8%
  
    Total 
    $3,077  
     52% 
    $2,192  
     48%

NOTE 11. NOTES
PAYABLE AND FINANCING TRANSACTIONS

Minnesota Bank & Trust

As
previously disclosed, we have several outstanding term loans as well as a revolving loan (the “Amended Revolving Loan”) under
our Amended and Restated Credit Agreement with MBT (as subsequently amended, the “Amended Credit Agreement”). On July
31, 2024 (the “Fourth Amendment Date”), we entered into Amendment No. 4 to the Amended Credit Agreement (the “Fourth
Amendment”) which, (i) provided for a new term loan, Term Loan C, in the amount of $5.0 million, (ii) used the proceeds from Term
Loan C to repay the entire $3.0 million balance that was outstanding on the Fourth Amendment Date under the Amended Revolving Loan, and
(iii) terminated our Supplemental Loan, under which no amounts had been drawn. Loan origination fees in the amount of $10,000 were
paid to MBT in conjunction with Term Loan C. On December 23, 2024, we entered into Amendment No. 5 to the Amended Credit Agreement (the
“Fifth Amendment”), which extended the maturity date of the Amended Revolving Loan from December 29, 2025, to December 29,
2026. On April 8, 2025, we entered into Amendment No. 6 to the Amended Credit Agreement (the “Sixth Amendment”), which among
other things, increased the revolving line of credit under the Amended  Revolving Loan from $7,000,000 to $11,000,000. Loan
origination fees in the amount of $8,000 were paid to MBT in connection with the Sixth Amendment.

The balance on our
out