Notes Payable

12 Months Ended

Dec. 31, 2022

Notes Payable [Abstract]

Notes Payable

10. Notes Payable

The Company has various loans with finance companies with monthly installments aggregating $76,546, inclusive of interest ranging from 2.5% through 8%. The notes mature at various times through 2027 and are secured by transportation equipment.

The following table summarizes the Company’s notes payable:

	December 31, 2022		December 31, 2021
Equipment and financing loans payable, between 2.5% and 8% interest and maturing between January 2022 and October 2027	$	1,901,514	$	1,903,288
Loan received pursuant to the PPP Term Note		-		-
Total notes payable		1,901,514		1,903,288
Less: current portion of notes payable	$	664,913	$	600,449
Total non-current portion of notes payable	$	1,236,601	$	1,302,839

Interest expenses were $117,664 and $61,324 for the periods ended December 31, 2022 and 2021, respectively. 

Future minimum annual maturities of notes payable as of December 31, 2022 are as follows:

	Notes Payable
2023	$	563,366
2024		443,416
2025		425,863
2026		345,557
Thereafter		123,312
Total maturities	$	1,901,514
Current portion of notes payable		(664,913	)
Non-current portion of notes payable	$	1,236,601