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Long-Term Debt (Tables) | 12 Months Ended
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Dec. 31, 2021
LONGTERM DEBT |
Schedule of Long-Term Debt |
|  | Outstanding Balance |  |  |  |  |  |  |
|  | December 31, |  |  | December 31, |  |  | Current |  |  |  |
|  | 2021 |  |  | 2020 |  |  | Interest Rate |  |  | Maturity |
DGSE |  |  |  |  |  |  |  |  |  |  |  |
Note payable, related party (1) |  | $ | - |  |  | $ | 2,863,715 |  |  |  | - |  |  | Paid off by third party |
Note payable, Farmers Bank (2) |  |  | 2,770,729 |  |  |  | - |  |  |  | 3.10 | % |  | November 15, 2026 |
Note payable, Truist Bank (3) |  |  | 909,073 |  |  |  | 942,652 |  |  |  | 3.65 | % |  | July 9, 2030 |
Note payable, Texas Bank & Trust (4) |  |  | 474,009 |  |  |  | 491,852 |  |  |  | 3.75 | % |  | September 14, 2025 |
Note payable, Texas Bank & Trust (5) |  |  | 1,752,446 |  |  |  | - |  |  |  | 3.25 | % |  | July 30, 2031 |
DGSE Sub-Total |  |  | 5,906,257 |  |  |  | 4,298,219 |  |  |  |  |  |  |  |
ECHG |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Note payable, related party (1) |  |  | - |  |  |  | 6,496,127 |  |  |  | - |  |  | Paid off by third party |
Note payable, Farmers Bank (2) |  |  | 6,286,459 |  |  |  | - |  |  |  | 3.10 | % |  | November 15, 2026 |
Revolving Line of Credit (6) |  |  | 1,700,000 |  |  |  | - |  |  |  | 3.10 | % |  | November 23, 2024 |
Avail Transaction note (7) |  |  | 2,000,000 |  |  |  | - |  |  |  | 0.00 | % |  | April 1, 2025 |
ECHG Sub-Total |  |  | 9,986,459 |  |  |  | 6,496,127 |  |  |  |  |  |  |  |
Envela |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Note payable, Texas Bank & Trust (8) |  |  | 2,843,415 |  |  |  | 2,951,379 |  |  |  | 3.25 | % |  | November 4, 2025 |
Note payable (9) |  |  | - |  |  |  | 1,668,200 |  |  |  | - |  |  | Federal Loan Forgiven |
Envela Sub-Total |  |  | 2,843,415 |  |  |  | 4,619,579 |  |  |  |  |  |  |  |
Sub-Total |  |  | 18,736,131 |  |  |  | 15,413,925 |  |  |  |  |  |  |  |
Current portion |  |  | 2,765,794 |  |  |  | 2,120,457 |  |  |  |  |  |  |  |
|  | $ | 15,970,337 |  |  | $ | 13,293,468 |  |  |  |  |  |  |  |
Schedule of Long-term Debt Maturities of Principal Payments |
Note payable, Farmers State Bank - DGSE |  |  |
Year Ending December 31, |  | Amount |
2022 |  | $ | 102,214 |
2023 |  |  | 105,428 |
2024 |  |  | 108,743 |
2025 |  |  | 112,163 |
2026 |  |  | 2,342,181 |
Subtotal |  | $ | 2,770,729 |
Note payable, Truist Bank - DGSE |  |  |  |
Year Ending December 31, |  | Amount |
2022 |  | $ | 34,683 |
2023 |  |  | 35,989 |
2024 |  |  | 37,343 |
2025 |  |  | 38,749 |
2026 |  |  | 40,208 |
Thereafter |  |  | 722,101 |
Subtotal |  | $ | 909,073 |
Note payable, Texas Bank & Trust - DGSE |  |  |  |
Year Ending December 31, |  | Amount |
2022 |  | $ | 17,823 |
2023 |  |  | 18,503 |
2024 |  |  | 19,209 |
2025 |  |  | 418,474 |
Subtotal |  | $ | 474,009 |
Note payable, Texas Bank & Trust - DGSE |  |  |  |
Year Ending December 31, |  | Amount |
2022 |  | $ | 70,200 |
2023 |  |  | 72,515 |
2024 |  |  | 74,907 |
2025 |  |  | 77,379 |
2026 |  |  | 1,457,445 |
Subtotal |  | $ | 1,752,446 |
Note payable, Farmers Bank - ECHG |  |  |  |
Year Ending December 31, |  | Amount |
2022 |  | $ | 231,912 |
2023 |  |  | 239,204 |
2024 |  |  | 246,726 |
2025 |  |  | 254,484 |
2026 |  |  | 5,314,133 |
Subtotal |  | $ | 6,286,459 |
Note payable - Revolving Line of Credit |  |  |  |
Year Ending December 31, |  | Amount |
2022 |  | $ | 1,700,000 |
Subtotal |  | $ | 1,700,000 |
Note payable - Justin and Tami Tinkle |  |  |  |
Year Ending December 31, |  | Amount |
2022 |  | $ | 500,000 |
2023 |  |  | 666,667 |
2024 |  |  | 666,667 |
2025 |  |  | 166,666 |
Subtotal |  | $ | 2,000,000 |
Note payable, Texas Bank & Trust - Envela |  |  |  |
Year Ending December 31, |  | Amount |
2022 |  | $ | 108,962 |
2023 |  |  | 112,627 |
2024 |  |  | 116,414 |
2025 |  |  | 2,505,412 |
Subtotal |  | $ | 2,843,415 |
|  | $ | 18,736,131 |

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