DEBT AND CREDIT FACILITIES (Tables)

3 Months Ended

Mar. 31, 2024

Debt And Credit Facilities

SCHEDULE OF LONG-TERM DEBT

The table below presents the components of outstanding debt for the periods presented:

As of March 31, 2024 and December 31, 2023, the interest rate on the advance under the Cadence Term Loan was 8.3%.

	March 31, 2024			December 31, 2023
Cadence Term Loan	$	9,750,000		$	9,750,000
Total debt		9,750,000			9,750,000
Less: debt issuance costs, net of accumulated amortization of $8,221 and $5,138		(53,438	)		(56,520	)
		9,696,562			9,693,480
Less: Current portion of long-term debt		928,571			580,357
Long-term debt	$	8,767,991		$	9,113,123

SCHEDULE OF MATURITIES OUTSTANDING DEBT

The table below presents the aggregate maturities of the Company’s outstanding debt as of March 31, 2024:

Year	Total
Remainder of 2024	$	580,357
2025		1,625,000
2026		1,950,000
2027		1,950,000
2028		3,644,643
Thereafter		-
Total debt	$	9,750,000