XML 65 R55.htm IDEA: XBRL DOCUMENT v3.24.0.1
Loans Payable (Details Narrative) - USD ($)
 1 Months Ended 3 Months Ended 6 Months Ended
May 09, 2023
May 31, 2023
Sep. 30, 2021
Dec. 31, 2020
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Feb. 07, 2023
Feb. 26, 2019
Security interest amount             $ 2,457,000      
Total Payments         $ 2,465,282   2,465,282      
Interest expense         $ 53,788 $ 81,241 111,399 $ 151,611    
BankUnited [Member]                    
Revolving Line Maximum Credit Limit                   $ 2,000,000
Term Loan                   5,813,500
Non Revolving Maximum Credit Limit                   $ 10,000,000
November 5, 2021 [Member] | Second Letter Agreement [Member]                    
Fees Payable             $ 50,000      
Interest Rate On Borrowing         4.00%   4.00%      
Monthly loan amount payable             $ 100,000      
May 11, 2022 [Member] | Third Amendment [Member]                    
Amendment Description             an amended maturity date of April 15, 2024 with respect to the Term Loan (as defined in the Amended Loan Agreement); and (ii) an amended exit fee equal to (a) 2% of the outstanding principal balance of the Term Loan on September 30, 2022, (b) 1% of the outstanding principal balance on December 31, 2022, (c) 1% of the outstanding principal balance on March 31, 2023, and (d) 4% of the outstanding principal balance on April 15, 2024 (to the extent the Term Loan is still outstanding on the respective dates)      
February 7, 2023 [Member] | Fourth Amendment [Member]                    
Principal reduction payment             $ 100,000      
Monthly loan amount payable             $ 75,000      
Interest Rate On Borrowing         4.00%   4.00%   1.00%  
May 9, 2023 [Member] | Fifth Amendment [Member]                    
Security interest amount $ 2,457,000                  
Interest Rate On Borrowing         110.00%   110.00%      
ANBTX Note                    
Interest Rate On Borrowing         6.15%   6.15%      
Maturity date             Apr. 14, 2024      
Total Payments         $ 150,000   $ 150,000      
2020 Equipment Loan                    
Interest Rate On Borrowing         3.30%   3.30%      
Installment Term     52 years 60 years            
Advances     $ 267,000 $ 275,000            
2023 Equipment Loan                    
Interest Rate On Borrowing         6.98%   6.98%      
Installment Term   48 years                
Advances   $ 284,000                
BankUnited Term Loan                    
Monthly loan amount payable             $ 75,000      
Term Loan         $ 5,813,500   $ 5,813,500      
Interest Rate On Borrowing         2.75%   2.75%      
Term Loan Tenure             5 years      
Maturity date             Dec. 31, 2024      
Total Payments         $ 1,811,247   $ 1,811,247      
Equal Monthly Principal Payment             $ 48,446      
Late payment fee         8.50%   8.50%      
Increase in monthly payment         $ 100,000   $ 100,000      
Fixed Charge Coverage Ratio             fixed charge coverage ratio of 1.25 to 1.00 and a total leverage ratio of 4.00 to 1.00      
Interest expense           $ 19,000   $ 37,100    
Fee Paid             $ 100,000