| Schedule of Debt |
As of March 31, 2023 and December 31, 2022, debt consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
March 31, 2023 |
|
|
December 31, 2022 |
|
Long-term debt |
|
$ |
4,005,404 |
|
|
$ |
4,035,529 |
|
Short-term debt |
|
|
611,565 |
|
|
|
724,639 |
|
Line of credit |
|
|
3,829,615 |
|
|
|
1,257,301 |
|
Total notes payable |
|
|
8,446,584 |
|
|
|
6,017,469 |
|
Less: current portion |
|
|
(890,260 |
) |
|
|
(969,421 |
) |
Less: debt issuance costs |
|
|
(265,224 |
) |
|
|
(305,369 |
) |
Less: line of credit, net of debt issuance costs |
|
|
(1,652,101 |
) |
|
|
(1,046,101 |
) |
Total notes payable, net of current portion |
|
$ |
5,639,000 |
|
|
$ |
3,696,578 |
|
|
| Future Minimum Principal Payments of Debt |
Future minimum principal payments on the notes payable are, as of March 31, 2023:
|
|
|
|
|
2023 (for the remainder of) |
|
$ |
2,654,539 |
|
2024 |
|
|
336,089 |
|
2025 |
|
|
608,083 |
|
2026 |
|
|
1,193,142 |
|
2027 |
|
|
1,654,732 |
|
Thereafter |
|
|
2,000,000 |
|
|
|
$ |
8,446,584 |
|
|