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DEBT (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

SCHEDULE OF LONG TERM DEBT

A summary of the Company’s debt at December 31, 2024 and 2023 is described as follows:

 SCHEDULE OF LONG TERM DEBT

		December 31,				December 31,
		2024				2023
8.625% Senior Notes due April 2026		$	75,000,000			$	75,000,000
11.875% Senior Notes due December 2027			40,250,000				40,250,000
Oaktree Loan due January 2026			111,263,000				80,213,000
Notes payable gross			226,513,000				195,463,000
Less: Unamortized debt discount and issuance costs			(6,974,000	)			(9,578,000	)
Notes payable net		$	219,539,000			$	185,885,000

SCHEDULE OF FUTURE MINIMUM PAYMENT UNDER NOTES PAYABLES

At December 31, 2024, future minimum payments under the Company’s debt were as follows:

SCHEDULE OF FUTURE MINIMUM PAYMENT UNDER NOTES PAYABLES  

		Amount
2025		$	23,877,000
2026			193,830,000
2027			45,030,000
Total minimum payments			262,737,000
Less: amount representing interest payments			(36,224,000	)
Notes payable, gross			226,513,000
Less: unamortized discount, net of premium			(6,974,000	)
Notes payable, net of unamortized discount		$	219,539,000

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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