| Summary of Long-Term Debt |
Long-term debt is comprised of the following:
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December 31, |
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June 30, |
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2025 |
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2026 |
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Current portion of long-term debt: |
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8.625% secured notes due February 1, 2026 |
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$ |
2,795,000 |
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$ |
— |
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Long-term debt: |
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Asset-based loan due December 31, 2027 |
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— |
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15,000,630 |
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10.000% payment-in-kind notes due December 31, 2027 |
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— |
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98,475,254 |
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11.000% senior secured first lien notes due August 1, 2028 |
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30,899,000 |
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15,000,000 |
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9.200% senior secured second lien notes due August 1, 2028 |
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184,922,000 |
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|
866,000 |
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Unamortized premium |
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19,466,353 |
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15,476,157 |
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$ |
235,287,353 |
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$ |
144,818,041 |
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