| Schedule of notes payable and long-term debt |
The table below summarizes our notes payable and long-term
debt at March 31, 2021 and at December 31, 2020:
| |
|
March 31, 2021 |
|
December 31, 2020 |
| Notes Payable |
|
|
|
|
|
|
|
|
| Senior credit facility |
|
$ |
185,141,188 |
|
|
$ |
153,405,569 |
|
| Fixed payment obligation, net of discount |
|
|
16,752,528 |
|
|
|
16,155,138 |
|
| Other notes - current |
|
|
3,436,499 |
|
|
|
4,198,113 |
|
| Other notes - long-term |
|
|
600,560 |
|
|
|
— |
|
| |
|
|
205,930,775 |
|
|
|
173,758,820 |
|
| Less: unamortized debt issuance costs |
|
|
(10,715,113 |
) |
|
|
(6,636,344 |
) |
| Subtotal |
|
|
195,215,662 |
|
|
|
167,122,476 |
|
| |
|
|
|
|
|
|
|
|
| Convertible Notes Payable |
|
|
|
|
|
|
|
|
| Convertible note payable to executive officer |
|
|
1,000,000 |
|
|
|
1,000,000 |
|
| Other convertible notes payable |
|
|
413,500 |
|
|
|
697,000 |
|
| Subtotal |
|
|
1,413,500 |
|
|
|
1,697,000 |
|
| |
|
|
|
|
|
|
|
|
| Total |
|
$ |
196,629,161 |
|
|
$ |
168,819,476 |
|
|
| Schedule of minimum required payments of notes payable and long-term debt |
The following table summarizes the minimum required payments of notes payable
and long-term debt as of March 31, 2021:
| Year |
|
Required Minimum Payments |
| |
2021 |
|
|
$ |
3,849,999 |
|
| |
2022 |
|
|
|
21,250,000 |
|
| |
2023 |
|
|
|
— |
|
| |
2024 |
|
|
|
— |
|
| |
2025 |
|
|
|
— |
|
| |
Thereafter |
|
|
|
185,741,748 |
|
| |
|
|
|
|
|
|
| |
Total |
|
|
$ |
210,841,747 |
|
|