| SCHEDULE OF LONG-TERM DEBT |
The
table below presents the components of the Company’s outstanding debt for the periods presented:
SCHEDULE OF LONG-TERM DEBT
| | |
June 30, 2025 | | |
December 31, 2024 | |
| CRG Term Loan | |
$ | 42,750,000 | | |
$ | 30,500,000 | |
| Paid-in-kind interest | |
| 1,834,210 | | |
| 838,965 | |
| Back-end fee | |
| 735,576 | | |
| 358,086 | |
| Debt | |
| 45,319,786 | | |
| 31,697,051 | |
| | |
| | | |
| | |
| Less: unamortized debt issuance costs | |
| (1,103,124 | ) | |
| (1,007,761 | ) |
| | |
| | | |
| | |
| Debt, net of debt issuance costs | |
| 44,216,662 | | |
| 30,689,290 | |
| | |
| | | |
| | |
| Less: Current portion of debt | |
| - | | |
| - | |
| Long-term debt, net of current portion | |
$ | 44,216,662 | | |
$ | 30,689,290 | |
|
| SCHEDULE OF MATURITIES OUTSTANDING |
The
table below presents the aggregate maturities of the Company’s outstanding debt as of June 30, 2025:
SCHEDULE OF MATURITIES OUTSTANDING
| Year | |
Total | |
| | |
| |
| Remainder of 2025 | |
$ | - | |
| 2026 | |
| - | |
| 2027 | |
| - | |
| 2028 | |
| - | |
| 2029 | |
| 45,319,786 | |
| 2030 | |
| - | |
| Thereafter | |
| - | |
| Total debt | |
$ | 45,319,786 | |
|