| SCHEDULE OF LONG TERM DEBT |
The
composition of the long-term debt follows:
SCHEDULE OF LONG TERM DEBT
| | |
December
31, 2025 | | |
December
31, 2024 | |
| | |
| | |
| |
| Oak Street Funding LLC Term Loan | |
$ | - | | |
$ | 305,996 | |
| Oak Street Funding LLC Term Loan
for the acquisition of EBS and USBA, variable interest of Prime Rate plus 2.5%, maturing August of 2028, net of deferred financing
costs of $0 and $7,950 as of December 31, 2025, and 2024, respectively | |
$ | - | | |
$ | 305,996 | |
| Oak Street Funding LLC Senior Secured Amortizing
Credit Facility for the acquisition of CCS, variable interest of Prime Rate plus 1.5%, maturing December 2028, net of deferred financing
costs of $0 and $9,974 as of December 31, 2025, and 2024, respectively | |
| - | | |
| 507,307 | |
| Oak Street Funding LLC Term Loan for the acquisition
of SWMT, variable interest of Prime Rate plus 2.0%, maturing April 2029 net of deferred financing costs of $0 and $6,260 as of December
31, 2025 and 2024, respectively | |
| - | | |
| 593,527 | |
| Oak Street Funding LLC Term Loan for the acquisition
of FIS, variable interest of Prime Rate plus 2.0%, maturing May 2029, net of deferred financing costs of $0 and $25,209 as of December
31, 2025 and 2024, respectively | |
| - | | |
| 1,505,894 | |
| Oak Street Funding LLC Term Loan for the acquisition
of ABC, variable interest of Prime Rate plus 2.0%, maturing September 2029, net of deferred financing costs of $0 and $29,169 as
of December 31, 2025 and 2024, respectively | |
| - | | |
| 2,514,031 | |
| Oak Street Funding LLC
Term Loan, variable interest of Prime Rate plus 2.5%, maturing May 2032, for the acquisition of Barra, net of deferred financing
costs of $0 and $155,337 as of December 31, 2025 and December 31, 2024, respectively | |
| 5,101,266 | | |
| 5,633,564 | |
| Long term debt | |
| 5,101,266 | | |
| 11,060,319 | |
| Less: current portion | |
| (1,038,294 | ) | |
| (1,591,919 | ) |
| Long-term debt | |
$ | 4,062,972 | | |
$ | 9,468,400 | |
|
| SCHEDULE OF CUMULATIVE MATURITIES OF LONG -TERM LOANS AND CREDIT FACILITIES |
Aggregated
cumulative maturities of long-term obligations (including the Term Loan and the Facility), excluding deferred financing costs, as of
December 31, 2025 are:
SCHEDULE OF CUMULATIVE MATURITIES OF LONG -TERM LOANS AND CREDIT FACILITIES
| Fiscal
year ending December 31, | |
Maturities
of Long-Term
Debt | |
| 2026 | |
$ | 1,038,294 | |
| 2027 | |
| 624,240 | |
| 2028 | |
| 684,412 | |
| 2029 | |
| 752,386 | |
| 2030 | |
| 826,062 | |
| Thereafter | |
| 1,309,783 | |
| Total | |
| 5,235,177 | |
| Less debt issuance costs | |
| (133,911 | ) |
| Total | |
$ | 5,101,266 | |
|