| Schedule of Long-term Liabilities |
Long-term liabilities consisted of the following at:
|
|
|
September 30,
|
|
|
December 31,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
Nevada State Bank credit agreement
|
|
$
|
8,629,800
|
|
|
$
|
8,699,900
|
|
|
Paycheck Protection Program borrowing
|
|
|
835,300
|
|
|
|
—
|
|
|
Share redemption consideration obligation
|
|
|
39,096,401
|
|
|
|
39,096,401
|
|
|
Vehicle notes payable
|
|
|
28,162
|
|
|
|
44,490
|
|
|
Insurance notes payable
|
|
|
—
|
|
|
|
177,894
|
|
|
Long-term liabilities, gross
|
|
|
48,589,663
|
|
|
|
48,018,685
|
|
|
Less: Unamortized debt issuance costs
|
|
|
(68,360
|
)
|
|
|
(93,144
|
)
|
|
Long-term liabilities, net of debt issuance costs
|
|
|
48,521,303
|
|
|
|
47,925,541
|
|
|
Less: Current portion
|
|
|
(2,530,149
|
)
|
|
|
(1,634,527
|
)
|
|
Long-term liabilities, net
|
|
$
|
45,991,154
|
|
|
$
|
46,291,014
|
|
|
| Schedule of Future Maturities of Long-term Liabilities |
As of September 30, 2020, future maturities of our long-term liabilities are as follows:
|
Twelve Months Ending September 30,
|
|
Total
|
|
|
2021
|
|
$
|
2,530,307
|
|
|
2022
|
|
|
1,616,655
|
|
|
2023
|
|
|
4,511,000
|
|
|
2024
|
|
|
—
|
|
|
2025
|
|
|
835,300
|
|
|
Thereafter
|
|
|
39,096,401
|
|
|
Long-term liabilities, gross
|
|
$
|
48,589,663
|
|
|