Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v3.22.2.2
Long-Term Debt (Tables)
9 Months Ended
Sep. 30, 2022
Debt Instrument [Line Items]  
Schedule of future minimum payments related to long-term debt

As of September 30, 2022, future minimum payments related to long-term debt are as follows for the years ended December 31:

2022

    

$

163,750

2023

 

 

655,000

2024

 

 

1,310,000

2025

 

 

1,310,473

2026

 

 

1,310,473

Thereafter

 

21,247,804

Total

 

25,997,500

Less current portion

 

(655,000)

Less deferred financing costs

 

(2,250,171)

Long-term debt, net

$

23,092,329

East West Bank  
Debt Instrument [Line Items]  
Schedule of components of interest expense and related fees for the lines of credit

The components of interest expense and related fees for the lines of credit are as follows:

    

For the Three Months 

 

For the Nine Months 

Ended

 

Ended

September 30, 

 

September 30, 

    

2022

    

2021

    

2022

    

2021

Interest expense – East West Bank

$

3,573

$

9,965

$

23,391

$

28,368

Amortization of deferred financing costs

 

33,434

 

12,944

 

100,765

 

38,832

Total interest expense and amortization of deferred financing costs

$

37,007

$

22,909

$

124,156

$

67,200

SilverPeak and Lafayette Square  
Debt Instrument [Line Items]  
Schedule of components of interest expense and related fees for the lines of credit

The components of interest expense and related fees for the 2020 Term Loan Facility and 2021 Credit Facility are as follows:

    

For the Three Months

 

For the Nine Months

 Ended 

 

 Ended 

September 30, 

September 30, 

    

2022

    

2021

2022

    

2021

Interest expense – SilverPeak

$

$

483,796

$

$

1,509,752

Interest expense – Layfaette Square

 

696,818

 

 

1,673,648

 

Amortization of deferred financing costs – Silverpeak

 

 

71,685

 

 

215,055

Amortization of deferred financing costs – Lafayette Square

 

128,064

 

 

362,243

 

Total interest expense and amortization of deferred financing costs

$

824,882

$

555,481

$

2,035,891

$

1,724,807