| Schedule of Debt Breakdown |
The table below provides a summary of the Company’s recognized debt: | | | | | | | | | | | | | June 30,
2026 | | December 31,
2025 | | Revolver | $ | 41,313,110 | | | $ | 49,454,401 | | | Term Note - related party | 56,872,782 | | | — | | | Credit Agreement - related party | 3,892,039 | | | 1,950,000 | | | Promissory Note | — | | | 1,375,000 | | | Merger Note - related party | 28,943,615 | | | 28,943,615 | | | Convertible Note | 161,961,751 | | | — | | | Factoring debt | 202,148,718 | | | 3,266,445 | | | Other short-term debt | 2,479,843 | | | — | | | Acquisition loans | 50,937,998 | | | — | | | Seller loans | 18,954,753 | | | — | | Less: unamortized debt issuance costs | (1,582,461) | | | (324,421) | | | Total debt | $ | 565,922,148 | | | $ | 84,665,040 | | | | | | | Current portion | $ | 456,951,821 | | | $ | 55,838,759 | | | Non-current portion | $ | 108,970,327 | | | $ | 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
June 30, 2026 | | Remainder of 2026 | $ | 16,103,536 | | | 2027 | 393,621,910 | | | 2028 | 68,070,727 | | | 2029 | 89,708,436 | | | 2030 | — | | | Thereafter | — | | | Total | $ | 567,504,609 | |
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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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