DEBT (Tables)
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12 Months Ended |
Dec. 31, 2024 |
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| DEBT |
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| Schedule of future maturities for debt |
| | | | Year | | Amount | 2025 | | $ | 7,232,271 | 2026 | | | 278,654 | 2027 | | | 113,326 | 2028 | | | 80,385 | 2029 | | | 56,883 | Thereafter | | | 774,417 | Total | | $ | 8,535,936 |
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| Business Loan and Security Agreement |
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| DEBT |
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| Schedule of debt |
| | | | | | | | | | | | | | | | | | | | | | | | | | Maturity Date | | | | | | | | | | | | | | | (from issuance | | | | Loan | | Loan Date | | Gross Proceeds | | December 31, 2024 | | date) | | Interest rate | | May 2024 BLS Agreement | | | 5/14/2024 | | $ | 100,000 | | $ | 56,896 | | 18-months | | 25.0 | % | July 2024 BLS Agreement | | | 7/31/2024 | | | 50,000 | | | 37,917 | | 18-months | | 25.0 | % | August 2024 BLS Agreement | | | 8/06/2024 | | | 100,000 | | | 65,449 | | 12-months | | 25.0 | % | Total | | | | | $ | 250,000 | | $ | 160,262 | | | | | |
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| Seller Notes |
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| DEBT |
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| Schedule of debt |
| | | | | | | | | | | | | | | | | | Annual | | | | | | | | | | | | | | Date of Note | | Interest Rate | | Maturity Date | | Secured by | | Principal | | December 31, 2024 | | December 31, 2023 | 12/01/2020 | | 6.0% | | November 2025 | | Mortgage of certain real property which has a book value of $200,000 as of December 31, 2024 | | $ | 200,000 | | $ | 41,283 | | $ | 83,810 | 06/18/2021 | | 6.0% | | May 2026 | | Equity securities of acquired company owned by ConnectM | | $ | 225,000 | | | — | | | 124,627 | 01/01/2022 | | 5.0% | | December 2026 | | Equity securities of acquired company owned by ConnectM | | $ | 200,000 | | | 66,820 | | | 117,367 | 01/01/2022 | | 5.0% | | December 2026 | | Equity securities of acquired company owned by ConnectM | | $ | 200,000 | | | 66,820 | | | 117,367 | 02/15/2022 | | 4.4% | | February 2025 | | Equity securities of acquired company owned by ConnectM | | $ | 600,000 | | | 200,000 | | | 400,000 | 05/31/2022 | | 6.0% | | July 2026 | | Equity securities of acquired company owned by ConnectM | | $ | 649,000 | | | 291,973 | | | 462,531 | 12/28/2022 | | 6.0% | | February 2028 | | Equity securities of acquired company owned by ConnectM | | $ | 900,000 | | | 768,063 | | | 768,063 | | | | | | | | | | | | $ | 1,434,959 | | $ | 2,073,765 |
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| Non-related party |
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| DEBT |
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| Schedule of debt |
| | | | | | | Description | | 2024 | | 2023 | Secured Promissory Notes | | $ | 4,250,000 | | $ | 7,410,000 | Small Business Administration Loans | | | 762,322 | | | 768,956 | Paycheck Protection Program Loans | | | 17,543 | | | 59,350 | Promissory Note | | | 79,000 | | | — | Vehicle Notes | | | 425,790 | | | 497,957 | Seller Notes | | | 1,434,959 | | | 2,073,765 | Avanti Notes | | | 179,910 | | | 85,437 | Real Estate Promissory Note | | | 370,000 | | | 370,000 | Business Loan and Security Agreement | | | 160,262 | | | — | Sale of Future Receipts | | | 856,150 | | | 1,938,257 | Total | | $ | 8,535,936 | | $ | 13,118,285 | Less: debt issuances costs | | | (212,772) | | | (32,224) | Less: notes payable, current portion | | | (7,019,499) | | | (11,935,580) | Notes payable, net of debt issuance costs and current portion | | $ | 1,303,665 | | $ | 1,150,481 |
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