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v3.23.2

LONG TERM DEBT (Tables) | 6 Months Ended
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Jun. 30, 2023
LONG TERM DEBT |
Schedule Of Long-term Debt |
|  | Outstanding Balance |  |  |  |  |  |  |
|  | June 30, |  |  | December 31, |  |  | Current |  |  |  |
|  | 2023 |  |  | 2022 |  |  | Interest Rate |  |  | Maturity |
Consumer |  |  |  |  |  |  |  |  |  |  |  |
Note payable, Farmers Bank (1) |  | $ | 2,616,114 |  |  | $ | 2,668,527 |  |  |  | 3.10 | % |  | November 15, 2026 |
Note payable, Truist Bank (2) |  |  | 856,547 |  |  |  | 874,418 |  |  |  | 3.65 | % |  | July 9, 2030 |
Note payable, Texas Bank & Trust (3) |  |  | 447,000 |  |  |  | 456,187 |  |  |  | 3.75 | % |  | September 14, 2025 |
Note payable, Texas Bank & Trust (4) |  |  | 1,659,344 |  |  |  | 1,691,020 |  |  |  | 3.75 | % |  | July 30, 2031 |
Consumer Sub-Total |  |  | 5,579,005 |  |  |  | 5,690,152 |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Note payable, Farmers Bank (1) |  |  | 5,935,648 |  |  |  | 6,054,565 |  |  |  | 3.10 | % |  | November 15, 2026 |
Line of Credit (5) |  |  | - |  |  |  | - |  |  |  | 3.10 | % |  | November 15, 2024 |
Avail Transaction note (6) |  |  | 1,166,667 |  |  |  | 1,500,000 |  |  |  | 0.00 | % |  | April 1, 2025 |
Commercial Sub-Total |  |  | 7,102,315 |  |  |  | 7,554,565 |  |  |  |  |  |  |  |
Corporate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Note payable, Texas Bank & Trust (7) |  |  | 2,675,844 |  |  |  | 2,732,688 |  |  |  | 3.25 | % |  | Novemeber 4, 2025 |
Sub-Total |  |  | 15,357,164 |  |  |  | 15,977,405 |  |  |  |  |  |  |  |
Current portion |  |  | 1,251,747 |  |  |  | 1,250,702 |  |  |  |  |  |  |  |
|  | $ | 14,105,417 |  |  | $ | 14,726,703 |  |  |  |  |  |  |  |
Schedule of Future Payments of Notes Payable, Related Party |
Note payable, Farmers State Bank |  |  |
Year Ending December 31, |  | Amount |
2023 (excluding the six months ended June 30, 2023) |  | $ | 53,010 |
2024 |  |  | 108,743 |
2025 |  |  | 112,162 |
2026 |  |  | 2,342,199 |
Subtotal |  | $ | 2,616,114 |
Note payable, Truist Bank |  |  |
Year Ending December 31, |  | Amount |
2023 (excluding the six months ended June 30, 2023) |  | $ | 18,116 |
2024 |  |  | 37,342 |
2025 |  |  | 38,748 |
2026 |  |  | 40,206 |
2027 |  |  | 42,081 |
Thereafter |  |  | 680,054 |
Subtotal |  | $ | 856,547 |
Note payable, Texas Bank & Trust |  |  |
Year Ending December 31, |  | Amount |
2023 (excluding the six months ended June 30, 2023) |  | $ | 9,315 |
2024 |  |  | 19,209 |
2025 |  |  | 418,476 |
Subtotal |  | $ | 447,000 |
Note payable, Texas Bank & Trust |  |  |
Year Ending December 31, |  | Amount |
2023 (excluding the six months ended June 30, 2023) |  | $ | 31,934 |
2024 |  |  | 66,218 |
2025 |  |  | 75,213 |
2026 |  |  | 78,734 |
2027 |  |  | 80,711 |
Thereafter |  |  | 1,326,534 |
Subtotal |  | $ | 1,659,344 |
Note payable, Farmers Bank |  |  |
Year Ending December 31, |  | Amount |
2023 (excluding the six months ended June 30, 2023) |  | $ | 120,274 |
2024 |  |  | 246,725 |
2025 |  |  | 254,483 |
2026 |  |  | 5,314,166 |
Subtotal |  | $ | 5,935,648 |
Note payable, Avail Transaction |  |  |
Year Ending December 31, |  | Amount |
2023 (excluding the six months ended June 30, 2023) |  | $ | 333,334 |
2024 |  |  | 666,667 |
2025 |  |  | 166,666 |
Subtotal |  | $ | 1,166,667 |
Year Ending December 31, |  | Amount |
2023 (excluding the six months ended June 30, 2023) |  | $ | 56,825 |
2024 |  |  | 116,509 |
2025 |  |  | 2,502,510 |
Subtotal |  |  | 2,675,844 |
|  | $ | 15,357,164 |
Schedule of maturities of long-term debt of Principal Payments |
|  | Scheduled |  |  |  |  |  |  |
|  | Principal |  |  | Loan |  |  |  |
Scheduled Principal Payments and Maturities by Year: |  | Payments |  |  | Maturities |  |  | Total |
2023 (excluding the six months ended June 30, 2023) |  |  | 622,808 |  |  |  | - |  |  |  | 622,808 |
2024 |  |  | 1,261,413 |  |  |  | - |  |  |  | 1,261,413 |
2025 |  |  | 772,387 |  |  |  | 2,795,871 |  |  |  | 3,568,258 |
2026 |  |  | 464,893 |  |  |  | 7,310,412 |  |  |  | 7,775,305 |
2027 |  |  | 122,792 |  |  |  | - |  |  |  | 122,792 |
Thereafter |  |  | 428,239 |  |  |  | 1,578,349 |  |  |  | 2,006,588 |
Total |  | $ | 3,672,532 |  |  | $ | 11,684,632 |  |  | $ | 15,357,164 |

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