LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2023

LONG-TERM DEBT

Schedule of Long-term debt

Long-term debt consists of the following as of December 31, 2023:

Principal amount	$	5,000,000
Accrued final fee		42,857
Subtotal		5,042,857
Less Current maturities		2,500,000
Long-term debt net of current maturities	$	2,542,857

Schedule of Principal payments of long-term debt

Principal payments of long-term debt are due as follows during the years ending December 31:

2024	$	2,500,000
2025		2,500,000
Total	$	5,000,000