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LONG-TERM DEBT | 12 Months Ended
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Dec. 31, 2022
LONG-TERM DEBT |
LONG-TERM DEBT | 8. LONG-TERM DEBT Long-term debt consists of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ |  | 2022 |  | 2021
Loan from American First National Bank. Maturity date is April 10, 2028. The loan, in the original amount of $4,209,608, provided funding for the expansion of the warehouse, additional office space, and a new controlled environment. The loan is secured by the Company’s land and buildings. The interest rate is equal to prime rate plus 0.25%, not to be less than 5.0%. The interest rate was 7.75% at December 31, 2022. | ​ | $ | 1,819,376 | ​ | $ | 2,103,308
​ | ​ | ​ | ​ | ​ | ​ | ​
Less: current portion | ​ |  | (285,954) | ​ |  | (289,114)
​ | ​ | $ | 1,533,422 | ​ | $ | 1,814,194
​ The fair value of long-term liabilities, based on Management’s estimates, approximates their reported values. The aggregate maturities of long-term debt as of December 31, 2022, are as follows:
​ | ​ | ​ | ​
2023 |  | $ | 285,954
2024 | ​ | ​ | 308,903
2025 | ​ | ​ | 334,416
2026 | ​ | ​ | 361,661
2027 | ​ | ​ | 391,125
Thereafter | ​ | ​ | 137,317
​ | ​ | $ | 1,819,376
​

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI https://asc.fasb.org/topic&trid=2208564 + Details
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