Quarterly report pursuant to Section 13 or 15(d)

Notes Payable and Interest Expense (Tables)

v3.21.1
Notes Payable and Interest Expense (Tables)
3 Months Ended
Mar. 31, 2021
Notes Payable and Interest Expense [Abstract]  
Schedule of Notes Payable



 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

Facility

 

Maturity

 

Interest Rate

 

Balance at

March 31,

2021

 

Balance at

December 31,

2020

BDC Term Loan

 

October 15, 2021

 

23.5% 

 

$

131,821 

 

$

160,088 

ACOA Note

 

February 1, 2024

 

 —

 

 

101,641 

 

 

111,430 

Wintrust Bank

 

November 14, 2021

 

Prime + 1.5%

 

 

266,667 

 

 

366,667 

TD Bank

 

December 31, 2022

 

 —

 

 

31,764 

 

 

31,390 

Chase Bank

 

April 10, 2022

 

1% 

 

 

891,103 

 

 

891,102 

Related Party Note

 

various

 

15% 

 

 

500,000 

 

 

580,000 

Total Debt

 

 

 

 

 

 

1,922,996 

 

 

2,140,677 

Less current portion

 

 

 

 

 

 

(432,237)

 

 

(641,676)

Long-term debt, net of current portion

 

 

 

 

 

$

1,490,759 

 

$

1,499,001