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DEBT AND CREDIT FACILITIES (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt And Credit Facilities |
SCHEDULE OF LONG-TERM DEBT | As of December 31, 2023, the interest rate on the advance under the Term Loan was 8.3%. SCHEDULE OF LONG-TERM DEBT
|  | December 31, 2023 |  |  | December 31, 2022 |
Term Loan |  | $ | 9,750,000 |  |  | $ | - |
Total debt |  |  | 9,750,000 |  |  |  | - |
Less: debt issuance costs, net of accumulated amortization of $5,138 and zero |  |  | (56,520 | ) |  |  | - |
Long-term debt |  |  | 9,693,480 |  |  |  | - |
Less: Current portion of long-term debt |  |  | 580,357 |  |  |  | - |
Long-term debt |  | $ | 9,113,123 |  |  | $ | - |
SCHEDULE OF MATURITIES OUTSTANDING DEBT | The table below presents the aggregate maturities of the Company’s outstanding debt as of December 31, 2023: SCHEDULE OF MATURITIES OUTSTANDING DEBT
Year |  | Total |
2024 |  | $ | 580,357 |
2025 |  |  | 1,625,000 |
2026 |  |  | 1,950,000 |
2027 |  |  | 1,950,000 |
2028 |  |  | 3,644,643 |
Thereafter |  |  | - |
Total debt |  | $ | 9,750,000 |

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