Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v3.23.3
Long-Term Debt (Tables)
9 Months Ended
Sep. 30, 2023
Debt Instrument [Line Items]  
Schedule of future minimum payments related to long-term debt

As of September 30, 2023, future minimum payments related to long-term debt are as follows for the years ended December 31:

2023

    

$

163,750

2024

 

 

1,310,000

2025

 

 

1,310,473

2026

 

 

22,411,965

2027

 

 

3,337

Thereafter

 

142,975

Total

 

25,342,500

Less current portion

 

(1,146,250)

Less deferred financing costs

 

(1,722,716)

Long-term debt, net

$

22,473,534

Lafayette Square | 2021 Credit Facility  
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 2021 Credit Facility are as follows:

    

For the Three Months

 

Nine Months Ended

 Ended 

 

 Ended 

September 30, 

September 30, 

    

2023

    

2022

2023

    

2022

Interest expense – Lafayette Square

$

895,638

$

696,818

$

2,665,091

$

1,673,648

Amortization of deferred financing costs – Lafayette Square

 

136,004

 

128,064

 

408,012

 

362,243

Total interest expense and amortization of deferred financing costs

$

1,031,642

$

824,882

$

3,073,103

$

2,035,891

East West Bank | 2020 and 2023 Revolving credit facilities  
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 2023 Revolving Credit Facility and 2020 Revolving Credit Facility are as follows:

    

For the Three Months 

 

Nine Months Ended

Ended

 

Ended

September 30, 

 

September 30, 

    

2023

    

2022

    

2023

    

2022

Interest expense – 2020 Revolving Credit Facility

$

$

3,573

$

$

23,391

Amortization of deferred financing costs – 2023 Revolving Credit Facility

26,835

26,835

Amortization of deferred financing costs – 2020 Revolving Credit Facility

33,434

100,765

Total interest expense and amortization of deferred financing costs

$

26,835

$

37,007

$

26,835

$

124,156