Quarterly report pursuant to Section 13 or 15(d)

LONG-TERM LIABILITIES (Tables)

v3.21.2
LONG-TERM LIABILITIES (Tables)
9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Schedule of Long-term Liabilities

Long-term liabilities consisted of the following at:

 

 

 

September 30,

 

 

December 31,

 

 

 

2021

 

 

2020

 

Nevada State Bank credit agreement

 

$

7,251,800

 

 

$

8,413,184

 

Main Street Priority Loan

 

 

4,000,000

 

 

 

4,000,000

 

Redemption Consideration Obligation

 

 

39,096,401

 

 

 

39,096,401

 

Vehicle notes payable

 

 

5,813

 

 

 

22,614

 

Insurance notes payable

 

 

 

 

 

519,194

 

Long-term liabilities, gross

 

 

50,354,014

 

 

 

52,051,393

 

Less: Unamortized debt issuance costs

 

 

(138,829

)

 

 

(137,817

)

Long-term liabilities, net of debt issuance costs

 

 

50,215,185

 

 

 

51,913,576

 

Less: Current portion

 

 

(2,607,913

)

 

 

(2,222,392

)

Long-term liabilities, net

 

$

47,607,272

 

 

$

49,691,184

 

Schedule of Future Maturities of Long-term Liabilities

As of September 30, 2021, future maturities of our long-term liabilities are as follows:    

 

Twelve Months Ending September 30,

 

Total

 

2022

 

$

2,607,913

 

2023

 

 

4,649,700

 

2024

 

 

600,000

 

2025

 

 

600,000

 

2026

 

 

2,800,000

 

Thereafter

 

 

39,096,401

 

Long-term liabilities, gross

 

$

50,354,014