DEBT (Tables)

9 Months Ended

Jun. 30, 2023

DEBT

Schedule of long-term obligations

	June 2023		September 2022
Unsecured note payable, interest payable at a fixed rate of 4.50% with quarterly installments of principal and interest of $49,114 through June 2023 with remaining principal due September 2023		852,642		968,589
Note payable, interest payable at a fixed rate of 4.10% with monthly installments of principal and interest of $53,361 through June 2033 with remaining principal due July 2033, collateralized by Team Sledd's principal office and warehouse		5,280,076		5,572,766
Note payable, interest payable at a fixed rate of 3.25% with monthly installments of principal and interest of $17,016 through August 2034 with remaining principal due September 2034, collateralized by Team Sledd's principal office and warehouse		1,927,167		2,052,327
Note payable with monthly installments of principal and interest of $7,934 through February 2025 with remaining principal due March 2025, and an effective variable rate of 7.28% at June 2023, collateralized by certain of Team Sledd's equipment		312,040		385,887
Note payable, interest payable at a fixed rate of 6.04% with monthly installments of principal and interest of $135,469 through February 2028, collateralized by certain of Henry's equipment		6,596,085		—
		14,968,010		8,979,569
Less current maturities		(2,738,524)		(1,595,309)
	$	12,229,486	$	7,384,260

Schedule of minimum principal maturities of the long-term debt

Fiscal Year Ending
2023 (1)	$	1,295,972
2024		1,957,369
2025		2,166,686
2026		2,073,198
2027		2,187,857
2028 and thereafter		5,286,928
	$	14,968,010

(1)Represents payments for the remaining three months of Fiscal 2023.