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Debt (Tables) (Fortman Insurance Agency, LLC)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

Dec. 31, 2018

Schedule of Debt

The composition of the long-term debt follows:

		September 30, 2020				December 31, 2019
Oak Street Funding LLC Term Loan for the acquisition of EBS and USBA, net of deferred financing costs of $17,935 and $19,044 as of September 30, 2020 and December 31, 2019, respectively		$	556,609			$	595,797
Oak Street Funding LLC Senior Secured Amortizing Credit Facility for the acquisition of CCS, net of deferred financing costs of $22,098 and $22,737 as of September 30, 2020 and December 31, 2019, respectively			899,810				963,174
Oak Street Funding LLC Term Loan for the acquisition of SWMT, net of deferred financing costs of $15,243 and $16,685 as of September 30, 2020 and December 31, 2019, respectively			1,002,808				1,066,815
Oak Street Funding LLC Term Loan for the acquisition of FIS, net of deferred financing costs of $51,385 and $54,293 as of September 30, 2020 and December 31, 2019, respectively			2,522,841				2,593,707
Oak Street Funding LLC Term Loan for the acquisition of ABC, net of deferred financing costs of $60,623 and $65,968 as of September 30, 2020 and December 31, 2019, respectively			4,071,444				4,062,032
			9,053,512				9,281,525
Less: current portion			(963,450	)			(1,010,570	)
Long-term debt		$	8,090,062			$	8,270,955

The composition of the long-term debt follows:

		December 31, 2019				December 31, 2018
Oak Street Funding LLC Term Loan for the acquisition of EBS and USBA, net of deferred financing costs of $19,044 and $21,263 as of December 31, 2019 and 2018, respectively		$	595,797			$	711,974
Oak Street Funding LLC Senior Secured Amortizing Credit Facility for the acquisition of CCS, net of deferred financing costs of $22,737 and $25,293 as of December 31, 2019 and 2018, respectively			963,174				999,707
Oak Street Funding LLC Term Loan for the acquisition of SWMT, net of deferred financing costs of $16,685 as of December 31, 2019			1,066,815				-
Oak Street Funding LLC Term Loan for the acquisition of FIS, net of deferred financing costs of $54,293 as of December 31, 2019			2,593,707				-
Oak Street Funding LLC Term Loan for the acquisition of ABC, net of deferred financing costs of $65,968 as of December 31, 2019			4,062,032				-
			9,281,525				1,711,681
Less: current portion			(1,010,570	)			(90,580	)
Long-term debt		$	8,270,955			$	1,621,101

Schedule of Furture Minimum Payments of Debt

Aggregated cumulative maturities of long-term obligations (including the Term Loan and the Facility), excluding deferred financing costs, as of September 30, 2020 are:

Period ending September 30,		Maturities of Long-Term Debt
2020 (remaining three months)		$	240,863
2021			963,450
2022			963,450
2023			963,450
2024			963,450
Thereafter			4,958,849
Total		$	9,053,512

Aggregated cumulative maturities of long-term obligations (including the Term Loan and the Facility), excluding deferred financing costs, as of December 31, 2019 are:

Years ending December 31,		Maturities of Long-Term Debt
2020		$	1,010,570
2021			1,010,570
2022			1,010,570
2023			1,010,570
2024			1,010,570
Thereafter			4,228,674
Total		$	9,281,525

Fortman Insurance Agency, LLC [Member]

Schedule of Debt

Debt consisted of the following at:

		December 31, 2018				December 31, 2017
Vehicle note payable due December 2022		$	-			$	42,412
Vehicle note payable due February 2022			21,905				28,501
Vehicle note payable due August 2022			21,616				-
			43,521				70,913
Less: current portion			14,677				13,037
Long-term debt		$	28,844			$	57,876

Schedule of Furture Minimum Payments of Debt

Future minimum payments approximate the following as of December 31, 2018:

Years ending December 31,
2019		$	14,677
2020			14,677
2021			11,975
2022			2,191
Total		$	43,521