Schedule of Long-term Debt |
Long-term debt consisted of the following at:
|
|
March 31, |
|
|
December 31, |
|
|
|
2020 |
|
|
2019 |
|
Nevada State Bank credit agreement |
|
$ |
9,358,799 |
|
|
$ |
8,699,900 |
|
Triangulum promissory note |
|
|
39,096,401 |
|
|
|
39,096,401 |
|
Vehicle notes payable |
|
|
39,021 |
|
|
|
44,490 |
|
Insurance notes payable |
|
|
118,966 |
|
|
|
177,894 |
|
Long-term debt, gross |
|
|
48,613,187 |
|
|
|
48,018,685 |
|
Less: Unamortized debt issuance costs |
|
|
(84,702 |
) |
|
|
(93,144 |
) |
Long-term debt, net |
|
|
48,528,485 |
|
|
|
47,925,541 |
|
Less: Current portion |
|
|
(1,599,103 |
) |
|
|
(1,634,527 |
) |
Long-term debt, long-term portion |
|
$ |
46,929,382 |
|
|
$ |
46,291,014 |
|
|
Schedule of Future Maturities of Long-term Debt Obligations |
As of March 31, 2020, future maturities of our long-term debt obligations are as follows:
Twelve Months Ending March 31, |
|
Total |
|
2021 |
|
$ |
1,599,103 |
|
2022 |
|
|
2,574,483 |
|
2023 |
|
|
1,664,400 |
|
2024 |
|
|
3,678,800 |
|
2025 |
|
|
— |
|
Thereafter |
|
|
39,096,401 |
|
Long-term debt, gross |
|
|
48,613,187 |
|
Less: |
|
|
|
|
Unamortized debt issuance costs |
|
|
(84,702 |
) |
Long-term debt, net |
|
$ |
48,528,485 |
|
|