Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.21.1
Debt (Tables)
3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]  
Schedule of Debt

As of March 31, 2021 and December 31, 2020, debt consisted of the following:

 

    March 31,     December 31,  
    2021     2020  
Line of credit:                
Lines of credit   $ 1,133,652     $ 1,133,652  
Receivable financing     -       367,301  
Debt issuance costs             -  
Total lines of credit     1,133,652       1,500,953  
                 
Senior convertible notes payable:                
Senior convertible notes payable     11,422,271       1,428,161  
Convertible notes payable             591,104  
Debt issuance costs     (10,000,762 )     (280,511 )
Total long-term senior convertible notes payable     1,421,509       1,738,754  
Less: current portion of long-term notes payable     1,421,509       (577,260 )
Noncurrent portion of long-term convertible notes payable     -       1,161,494  
                 
Notes payable:                
Notes payable     891,193       1,932,088  
Debt issuance costs     -       (34,997 )
Total long-term debt     891,193       1,897,091  
Less: current portion of long-term debt     (437,374 )     (1,301,212 )
Noncurrent portion of long-term debt     453,819       595,879  
                 
Notes payable – related parties:                
Notes payable     2,167,514       2,827,512  
Debt issuance costs           (33,833 )
Total notes payable – related parties:     2,167,514       2,793,679  
Less: current portion of long-term debt – related parties     (1,263,755 )     (1,389,922 )
Noncurrent portion of long-term debt – related parties   $ 903,759     $ 1,403,757  
Schedule of Maturities of Long-term Debt

The scheduled maturities of the debt for the next five years as of March 31, 2021, are as follows:

 

For the Years Ended December 31,   Amount  
2021 (excluding the three months ended March 31, 2021)     2,692,726  
2022     12,487,520  
2023     434,385  
2024     -  
2025     -  
Thereafter     -  
      15,614,631  
Less: debt discount     (10,000,762 )
    $ 5,613,869