| Schedule of Debt |
As of September 30, 2021 and December 31, 2020, debt consisted of the following:
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|
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|
|
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|
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As of |
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As of |
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|
September 30, |
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December 31, |
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|
|
2021 |
|
|
2020 |
|
Long-term debt |
|
$ |
294,933 |
|
|
$ |
5,677,505 |
|
Short-term debt |
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|
3,304,897 |
|
|
|
7,745,843 |
|
Related party notes payable |
|
|
- |
|
|
|
3,001,366 |
|
Convertible Notes, net of subscriptions to members |
|
|
- |
|
|
|
8,254,390 |
|
Payroll protection loan |
|
|
- |
|
|
|
1,669,552 |
|
Other notes payable |
|
|
- |
|
|
|
212,066 |
|
Line of credit |
|
|
3,500,000 |
|
|
|
3,500,000 |
|
Total notes payable |
|
|
7,099,830 |
|
|
|
30,060,722 |
|
Less: current portion |
|
|
(3,445,495 |
) |
|
|
(22,649,995 |
) |
Less: line of credit |
|
|
(3,500,000 |
) |
|
|
(3,500,000 |
) |
Notes payable, net of current portion |
|
|
154,335 |
|
|
|
3,910,727 |
|
Deferred financing fees |
|
|
- |
|
|
|
(36,492 |
) |
Total notes payable, net |
|
$ |
154,335 |
|
|
$ |
3,874,235 |
|
|
| Future Minimum Principal Payments of Debt |
Future minimum principal payments on the notes payable are as of September 30, 2021:
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|
2021 (for the remainder of) |
|
$ |
5,769,293 |
|
2022 |
|
|
602,806 |
|
2023 |
|
|
574,788 |
|
2024 |
|
|
145,146 |
|
2025 |
|
|
7,796 |
|
|
|
|
|
|
|
$ |
7,099,829 |
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|