| Schedule of Notes Payable |
The following table presents details of our
notes payable as of September 30, 2020 and December 31, 2019:
| Facility |
|
Maturity |
|
Interest Rate |
|
|
Balance at
September 30,
2020 |
|
|
Balance at
December 31,
2019 |
|
| BDC Term Loan |
|
October 15, 2021 |
|
|
25 |
% |
|
$ |
188,306 |
|
|
$ |
224,307 |
|
| ACOA Note |
|
May 1, 2023 |
|
|
- |
|
|
|
106,095 |
|
|
|
117,131 |
|
| Wintrust Bank |
|
November 1, 2021 |
|
|
Prime + 1.5 |
% |
|
|
466,667 |
|
|
|
766,667 |
|
| TD Bank |
|
December 31, 2022 |
|
|
- |
|
|
|
29,890 |
|
|
|
- |
|
| Chase Bank |
|
April 10, 2022 |
|
|
1 |
% |
|
|
891,103 |
|
|
|
- |
|
| Related Party Note |
|
various |
|
|
15 |
% |
|
|
1,280,000 |
|
|
|
1,140,700 |
|
| Total Debt |
|
|
|
|
|
|
|
|
2,962,061 |
|
|
|
2,248,805 |
|
| Less current portion |
|
|
|
|
|
|
|
|
(644,021 |
) |
|
|
(681,276 |
) |
| Long-term debt, net of current portion |
|
|
|
|
|
|
|
$ |
2,318,040 |
|
|
$ |
1,567,529 |
|
|