| Schedule of Debt Instruments |
The
Company’s debt instruments are as follows:
| | |
March 31,
2025 | | |
December 31,
2024 | |
| Senior
Secured Term Loan | |
$ | 22,563,093 | | |
$ | 23,696,417 | |
| Seller
Promissory Note | |
| 15,000,000 | | |
| 15,000,000 | |
| Merchant
Cash Advances | |
| 1,047,028 | | |
| 948,982 | |
| Convertible Notes Payable, including at $63,757 accounted for at fair value | |
| 1,562,257 | | |
| 891,363 | |
| Private
loans | |
| 2,900,000 | | |
| 3,556,750 | |
| Total | |
| 43,072,378 | | |
| 44,093,512 | |
| Less:
unamortized financing cost | |
| (756,307 | ) | |
| (834,853 | ) |
| Less:
current portion including amortization | |
| (8,654,397 | ) | |
| (9,080,910 | ) |
| Long-term
debt, net of current portion | |
$ | 33,661,674 | | |
$ | 34,177,749 | |
|
The
Company’s debt instruments are as follows:
| | |
December 31,
2024 | | |
December 31,
2023 | |
| Senior
Secured Term Loan | |
$ | 23,696,417 | | |
$ | 27,680,703 | |
| Seller
Promissory Note | |
| 15,000,000 | | |
| 15,000,000 | |
| Merchant
Cash Advances | |
| 948,982 | | |
| - | |
| Convertible
Notes Payable at fair value | |
| 891,363 | | |
| - | |
| Private
loans | |
| 3,556,750 | | |
| 3,469,500 | |
| Total | |
| 44,093,512 | | |
| 46,150,203 | |
| Less:
unamortized financing cost | |
| (834,853 | ) | |
| (2,147,346 | ) |
| Less:
current portion including amortization | |
| (9,080,910 | ) | |
| (6,516,651 | ) |
| Long-term
debt, net of current portion | |
$ | 34,177,749 | | |
$ | 37,486,206 | |
|
| Schedule of Company’s Maturities of Debt Instruments |
The
following summarizes the Company’s maturities of debt instruments:
| | |
Principal | |
| 12
months ended: | |
| |
| March
31, 2026 | |
$ | 8,927,309 | |
| March
31, 2027 | |
| 17,582,812 | |
| March
31, 2028 | |
| 16,562,257 | |
| Total | |
$ | 43,072,378 | |
|
The
following summarizes the Company’s maturities of all debt instruments described above:
| | |
Principal | |
| Fiscal
year ended: | |
| |
| December
31, 2025 | |
$ | 9,303,826 | |
| December
31, 2026 | |
| 5,072,930 | |
| December
31, 2027 | |
| 29,425,393 | |
| December
31, 2028 | |
| — | |
| Total | |
$ | 43,802,149 | |
|