The following table represents the Company’s outstanding debt as of March 31, 2023 and December 31, 2022: |
The following table represents the Company’s
outstanding debt as of March 31, 2023 and December 31, 2022:
| |
As of
March 31, 2023 | | |
As of
December 31, 2022 | |
| |
| | |
| |
Senior Revolver Loan Agreement | |
$ | 5,369,500 | | |
$ | 5,869,500 | |
| |
| | | |
| | |
Long Term Note Payable – Related Party | |
| 1,073,376 | | |
| 1,076,987 | |
| |
| | | |
| | |
Equipment and vehicle notes, 0% to 9.0% interest rates, due in 2025 to 2027 with monthly payments ranging from $400 to $1,400 per month | |
| 296,994 | | |
| 252,924 | |
| |
| | | |
| | |
Note Payable to insurance provider, bears 5.78% interest, matures January 2024, monthly payments of principal and interest of $46,928 | |
| 409,242 | | |
| — | |
Total debt | |
| 7,149,112 | | |
| 7,199,411 | |
Less: Current maturities | |
| (2,481,236 | ) | |
| (2,059,309 | ) |
Less: Long Term Note Payable – Related Party | |
| (1,073,376 | ) | |
| (1,076,987 | ) |
Long-Term debt | |
$ | 3,594,500 | | |
$ | 4,063,115 | |
|