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LINES OF CREDIT AND LONG-TERM LIABILITIES

3 Months Ended

Dec. 31, 2022

LINES OF CREDIT AND LONG-TERM LIABILITIES

NOTE 15 – LINES OF CREDIT AND LONG-TERM LIABILITIES

The following table outlines the Company’s lines of credit and liabilities.

			December 31,			September 30,
	Interest Rate	Maturity	2022			2022
Fulton Bank line of credit $3,500,000 - The terms of this line of credit are subject to the bank’s review annually on February 1.	Secured Overnight Financing Rate (“SOFR”) plus 2.37% (6.67% as of December 31, 2022 and 5.35% as of September 30, 2022)	N/A	$	-		$	-

Fulton Bank loan $5,250,000 for the purchase of AIS $5,000,000 of the proceeds went to the direct purchase of AIS. This loan is secured by certain assets of the Company.	SOFR plus 2.37%(6.67% as of December 31, 2022 and 5.35% as of September 30, 2022)	12/15/2022		-			247,284

Fulton Bank loan $400,000 fund equipment for AIS. The Company was in compliance with loan covenants as of December 31, 2022. This loan is secured by certain assets of the Company.	SOFR plus 2.37% (6.67% as of December 31, 2022 and 5.35% as of September 30, 2022)	5/1/2023		39,843			63,280

Fulton Bank - $360,000 fund equipment for AIS. The Company was in compliance with loan covenants as of December 31, 2022. This loan is secured by certain assets of the Company.	SOFR plus 2.37% (6.67% as of December 31, 2022 and 5.35% as of September 30, 2022).	5/1/2023		165,518			183,839

Fulton Bank mortgage $2,476,000. The Company was in compliance with loan covenants as of December 31, 2022.	SOFR plus 2.62% (6.92% as of December 31, 2022 and 5.6% as of September 30, 2022).	1/28/2040		2,228,157			2,245,664

Note payable - $439,774. For the purchase of VDI. Payable in two installments on October 26, 2021, and October 26, 2022.	5%	10/26/2022		-			219,370

Note payable - $5,755,000 - Less original issue discount $750,000 and legal fees $5,000, net cash received $5,000,000 Unamortized original issue discount balance of $125,000 and $250,000, as of December 31, 2022 and September 30, 2022respectively.	8%	3/30/2023		4,921,279			4,943,929

Note payable - $9,205,000. Less original issue discount $1,200,000 and legal fees $5,000,net cash received $8,000,000. 28,572 shares of common stock valued at $700,400 recognized as additional original issue discount. Unamortized original issue discount balance of $739,044 and$1,064,778 as of December 31, 2022 and September 30, 2022 respectivly.	8%	8/23/2023		10,089,381			9,738,632

Term Loan Agreement with NIL Funding Corporation (“NIL”) - $5,600,000 The Company was in compliance with loan covenants as of December 31, 2022.	8.85%	3/30/2023		2,729,743			2,804,743

Paycheck Protection Program loan - $121,400 - The issuing bank determined that this loan qualifies for loan forgiveness; however the Company is awaiting final approval from the Small Business Administration.		5/5/2025		121,400			121,400
Total Notes Payable			$	20,295,321		$	20,568,141
Less: Current maturities				(17,099,485	)		(16,894,743	)
Notes Payable, Long Term			$	3,195,836		$	3,673,398