DEBT OBLIGATIONS (Tables)

3 Months Ended

Mar. 31, 2023

Debt at March 31, 2023 and December 31, 2022 consisted of the following:


	March 31, 2023		December 31, 2022
GHF Secured Promissory Note – 6% interest, due December 15, 2024	$	4,290,000	$	4,290,000
Alvin Fund LLC Promissory Note - 9% interest, due October 25, 2023	2,000,000		2,000,000
Ionic Unsecured Convertible Promissory Note - 8% interest, due March 16, 2024	2,054,236		3,150,000
Total debt	8,344,236		9,440,000
Less: debt discounts and issuance costs	(1,270,297)		(1,522,667)
Total debt, net of discounts	7,073,939		7,917,333
Less: current maturities	(3,431,419)		(1,795,890)
Long-term debt, net of discounts and issuance costs	$	3,642,520	$	6,121,443

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details