| Schedule of notes payable and long-term debt |
The table below summarizes our notes payable and long-term
debt at year end 2020 and 2019:
| |
|
December 31 |
| |
|
2020 |
|
2019 |
| Notes Payable |
|
|
|
|
|
|
|
|
| Senior credit facility |
|
$ |
153,405,569 |
|
|
$ |
— |
|
| Fixed payment obligation, net of discount of $4,094,863 |
|
|
16,155,138 |
|
|
|
— |
|
| Other notes - current |
|
|
4,198,113 |
|
|
|
4,426,767 |
|
| |
|
|
173,758,820 |
|
|
|
4,426,767 |
|
| Less: unamortized debt issuance costs |
|
|
(6,636,344 |
) |
|
|
— |
|
| Subtotal |
|
|
167,122,476 |
|
|
|
4,426,767 |
|
| |
|
|
|
|
|
|
|
|
| Convertible Notes Payable |
|
|
|
|
|
|
|
|
| Convertible note payable to executive officer |
|
|
1,000,000 |
|
|
|
1,000,000 |
|
| Other convertible notes payable |
|
|
697,000 |
|
|
|
697,000 |
|
| Subtotal |
|
|
1,697,000 |
|
|
|
1,697,000 |
|
| |
|
|
|
|
|
|
|
|
| Total |
|
$ |
168,819,476 |
|
|
$ |
6,123,767 |
|
|
| 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 December 31, 2020:
| Year |
|
Required Minimum Payments |
| |
2021 |
|
|
$ |
4,895,114 |
|
| |
2022 |
|
|
|
21,250,000 |
|
| |
2023 |
|
|
|
— |
|
| |
2024 |
|
|
|
— |
|
| |
2025 |
|
|
|
— |
|
| |
Thereafter |
|
|
|
153,405,569 |
|
| |
|
|
|
|
|
|
| |
Total |
|
|
$ |
179,555,683 |
|
|