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v3.21.1

Notes Payable and Other Long-Term Liabilities, Net (Tables) | 3 Months Ended
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Mar. 31, 2021
Debt Disclosure [Abstract] |
Schedule of Debt Obligations | Our debt obligations are as follows:
|  |  |  | March 31, |  |  | December 31, |
|  | Interest Rate (1) |  | 2021 |  |  | 2020 |
|  |  |  | (Unaudited) |  |  |  |  |
Monroe Term Loan (2) |  | 9.75% |  | $ | 11,471,250 |  |  | $ | 11,500,000 |
Green Remedies Promissory Note (3) |  | 3.0% |  |  | 2,577,457 |  |  |  | 2,684,250 |
BBVA ABL Facility (4) |  | 3.0% |  |  | 3,624,210 |  |  |  | 4,299,333 |
Total notes payable |  |  |  |  | 17,672,917 |  |  |  | 18,483,583 |
Less: Current portion of long-term debt |  |  |  |  | (624,383 | ) |  |  | (624,383 | )
Less: Unamortized debt issuance costs |  |  |  |  | (1,581,811 | ) |  |  | (1,670,529 | )
Less: Unamortized OID |  |  |  |  | (468,631 | ) |  |  | (494,343 | )
Less: Unamortized OID warrant |  |  |  |  | (697,792 | ) |  |  | (745,703 | )
Notes payable, net |  |  |  | $ | 14,300,300 |  |  | $ | 14,948,625 |
(1) Interest rates as of March 31, 2021 |  |  |  |  |  |  |  |
(2) Bears interest at LIBOR rate plus Applicable Margin ranging from 7.5%-10.5% |  |  |  |  |  |  |  |
(3) Stated interest rate of 3.0%, discounted cash flow rate of 13% |  |  |  |  |  |  |  |
(4) Bears interest at a Base rate, as defined, plus a margin of 0.75% to 1.25% |  |  |  |  |  |  |  |
Schedule of Changes in Debt Issuance Costs | The table below summarizes changes in debt issuance costs.
|  |  |  | March 31, |
|  |  |  | 2021 |
|  |  |  | (Unaudited) |
Debt issuance costs |  |  |  |  |  |
Beginning balance |  |  |  | $ | 1,670,529 |
Less: Amortization expense |  |  |  |  | (88,718 | )
Debt issuance costs, net of accumulated amortization |  |  |  | $ | 1,581,811 |
Schedule of Other Long-Term Liabilities, Net | Other long-term liabilities, net
|  |  |  | March 31, |  |  | December 31, |
|  |  |  | 2021 |  |  | 2020 |
|  |  |  | (Unaudited) |  |  |  |  |
Deferred seller consideration, net |  |  |  | $ | 1,035,309 |  |  | $ | 986,028 |
Deferred consideration - earn-out |  |  |  |  | 440,000 |  |  |  | 440,000 |
Operating lease liability |  |  |  |  | 373,706 |  |  |  | 543,564 |
Other |  |  |  |  | 4,167 |  |  |  | 4,167 |
|  |  |  | $ | 1,853,182 |  |  | $ | 1,973,759 |

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