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Long-Term Debt (Tables) | 9 Months Ended
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Sep. 30, 2020
Debt Disclosure [Abstract] |
Schedule of long-term debt |
|  |  | Outstanding Balance |  |  |  |  |  |  |  |
|  |  | September 30, |  |  |  | December 31, |  |  |  | Current |  |  |  |  |
|  |  | 2020 |  |  |  | 2019 |  |  |  | Interest Rate |  |  |  | Maturity |
DGSE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Note payable, related party (1) |  | $ | 2,885,476 |  |  | $ | 2,949,545 |  |  |  | 6.00 | % |  |  | May 16, 2024 |
Note payable, Truist Bank (2) |  |  | 950,711 |  |  |  | — |  |  |  | 3.65 | % |  |  | July 9, 2030 |
Note payable, Texas Bank & Trust (3) |  |  | 496,000 |  |  |  | — |  |  |  | 3.75 | % |  |  | September 14, 2025 |
|  |  | 4,332,187 |  |  |  | 2,949,545 |  |  |  |  |  |  |  |  |
ECHG |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Note payable, related party (1) |  |  | 6,545,155 |  |  |  | 6,689,507 |  |  |  | 6.00 | % |  |  | May 16, 2024 |
Envela |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Note payable (4) |  |  | 1,668,200 |  |  |  | — |  |  |  |  |  |  |  |  |
Sub-Total |  |  | 12,545,542 |  |  |  | 9,639,052 |  |  |  |  |  |  |  |  |
Current portion |  |  | 2,021,521 |  |  |  | 1,084,072 |  |  |  |  |  |  |  |  |
|  | $ | 10,524,021 |  |  | $ | 8,554,980 |  |  |  |  |  |  |  |  |
Schedule of long-term debt maturities of principal payments | Future scheduled principal payments of our notes payable and notes payable, related party, as of September 30, 2020 are as follows:
Note payable, related party - DGSE |  |
Year Ending December 31, |  | Amount
| 2020 (excluding the nine months ended September 30, 2020) |  |  | $ | 23,021 |
| 2021 |  |  |  | 95,129 |
| 2022 |  |  |  | 100,996 |
| 2023 |  |  |  | 107,225 |
| 2024 |  |  |  | 2,559,105 |
| Subtotal |  |  |  | 2,885,476 |
Note payable, Truist Bank - DGSE |  |
Year Ending December 31, |  | Amount
| 2020 (excluding the nine months ended September 30, 2020) |  |  |  | 8,285 |
| 2021 |  |  |  | 33,904 |
| 2022 |  |  |  | 35,163 |
| 2023 |  |  |  | 36,468 |
| 2024 |  |  |  | 37,821 |
| Thereafter |  |  |  | 799,070 |
| Subtotal |  |  |  | 950,711 |
Note payable, Texas Bank & Trust - DGSE |  |
Year Ending December 31, |  | Amount
| 2020 (excluding the nine months ended September 30, 2020) |  |  |  | 4,250 |
| 2021 |  |  |  | 17,399 |
| 2022 |  |  |  | 18,053 |
| 2023 |  |  |  | 18,732 |
| 2024 |  |  |  | 19,437 |
| Thereafter |  |  |  | 418,129 |
| Subtotal |  |  |  | 496,000 |
Note payable, related party - ECHG |  |
Year Ending December 31, |  | Amount
| 2020 (excluding the nine months ended September 30, 2020) |  |  |  | 51,284 |
| 2021 |  |  |  | 211,903 |
| 2022 |  |  |  | 224,973 |
| 2023 |  |  |  | 238,849 |
| 2024 |  |  |  | 5,818,146 |
| Subtotal |  |  |  | 6,545,155 |
Note payable - Envela Corporation |  |
Year Ending December 31, |  | Amount
2020 (excluding the nine months ended September 30, 2020) |  |  | 1,668,200 |
Subtotal |  |  | 1,668,200 |
|  | $ | 12,545,542 |

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