| Schedule of Debt Breakdown |
The table below provides a summary of the Company’s recognized debt: | | | | | | | | | | | | | March 31,
2026 | | December 31,
2025 | | Revolver | $ | 45,271,994 | | | $ | 49,454,401 | | | | | | | | | | | | | | | | | | | Credit Agreement | 1,950,000 | | | 1,950,000 | | | Promissory Note | — | | | 1,375,000 | | | Merger Note | 28,943,615 | | | 28,943,615 | | | Convertible Note | 161,961,751 | | | — | | | Factoring debt | 205,981,176 | | | 3,266,445 | | | Acquisition loans | 51,784,958 | | | — | | | Seller loans | 19,182,675 | | | — | | Less: unamortized debt issuance costs | (1,904,052) | | | (324,421) | | | Total debt | $ | 513,172,117 | | | $ | 84,665,040 | | | | | | | Current portion | $ | 468,515,500 | | | $ | 55,838,759 | | | Non-current portion | $ | 44,656,617 | | | $ | 28,826,281 | |
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| Schedule of Future Minimum Principal Payments on Company’s Outstanding Debt |
Subsequent to the executed amendments of the Company’s debt obligations described herein, the future minimum principal payments on the Company’s outstanding debt are as follows: | | | | | | | | As of
March 31, 2026 | | Remainder of 2026 | $ | 29,284,761 | | | 2027 | 417,660,542 | | | 2028 | 68,130,866 | | | 2029 | — | | | 2030 | — | | | Thereafter | — | | | Total | $ | 515,076,169 | |
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| Offsetting Liabilities |
Below is presented the calculation of the net liability of the Merger Note, excluding unamortized deferred issuance costs as of December 31, 2025. | | | | | | | | | | | | | | | | | | | | | | | Gross Amount | | Amount Offset | | Net Amount on Consolidating Balance Sheet | | Merger Note | | $ | 34,882,666 | | | $ | (6,056,385) | | | $ | 28,826,281 | |
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