| Schedule of notes payable |
The following table presents details of our
notes payable as of June 30, 2020 and December 31, 2019:
| Facility |
|
Maturity |
|
Interest Rate |
|
Balance at
June 30,
2020 |
|
Balance at
December 31,
2019 |
| BDC Term Loan |
|
October 15, 2021 |
|
25% |
|
$ |
198,984 |
|
$ |
224,307 |
| ACOA Note |
|
May 1, 2023 |
|
- |
|
|
103,867 |
|
|
117,131 |
| Wintrust Bank |
|
November 1, 2021 |
|
Prime + 1.5% |
|
|
566,667 |
|
|
766,667 |
| TD Bank |
|
December 31, 2022 |
|
- |
|
|
29,262 |
|
|
- |
| Chase Bank |
|
April 10, 2022 |
|
1% |
|
|
891,103 |
|
|
- |
| Related Party Note |
|
various |
|
15% |
|
|
1,280,000 |
|
|
1,140,700 |
| Total Debt |
|
|
|
|
|
|
3,069,883 |
|
|
2,248,805 |
| Less current portion |
|
|
|
|
|
|
(614,241) |
|
|
(681,276) |
| Long-term debt, net of current portion |
|
|
|
|
|
$ |
2,455,642 |
|
$ |
1,567,529 |
|