| Schedule of debt |
|
|
|
|
|
|
Senior secured notes |
As of January 1, 2020 |
|
$ |
— |
Debt issued |
|
|
110,000,000 |
Debt issuance costs |
|
|
(6,437,895) |
Debt issuance costs amortized |
|
|
90,858 |
As of December 31, 2020 |
|
|
103,652,963 |
Debt issuance costs |
|
|
(2,142,242) |
Debt issuance costs amortized |
|
|
1,744,520 |
Senior Secured Notes issued |
|
|
133,250,000 |
Senior Secured Notes premium |
|
|
9,304,957 |
Senior Secured Notes premium amortized |
|
|
(402,376) |
Total senior secured notes payable as of December 31, 2021 |
|
$ |
245,407,822 |
Total accrued interest payable related to senior secured notes as of December 31, 2021 |
|
$ |
6,092,080 |
|
| Schedule of debt |
|
|
|
|
|
|
Debts Payable |
As of January 1, 2020 |
|
$ |
43,995,661 |
Acquired through combinations and acquisitions |
|
|
25,131,964 |
Less: repayment |
|
|
(5,615,225) |
Less: discounted to fair value |
|
|
(1,279,819) |
As of December 31, 2020 |
|
|
62,232,581 |
Discounted as of December 31, 2020 |
|
|
1,279,819 |
Acquired through combinations and acquisitions |
|
|
87,474,904 |
Converted to equity |
|
|
(7,429,389) |
Less: repayment |
|
|
(8,749,327) |
Total debts payable, undiscounted as of December 31, 2021 |
|
|
134,808,588 |
Less: discounted to fair value |
|
|
(950,977) |
Total debts payable as of December 31, 2021 |
|
$ |
133,857,611 |
Total accrued interest payable related to debts payable as of December 31, 2021 |
|
$ |
4,900,570 |
The details of debts payable were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2021 |
|
|
Related party debt |
|
Non-related party debt |
|
Total debt |
Principal payments |
|
$ |
26,869,512 |
|
$ |
107,939,076 |
|
$ |
134,808,588 |
Less: current portion |
|
|
2,847,566 |
|
|
5,264,157 |
|
|
8,111,723 |
Total non-current debt, undiscounted |
|
$ |
24,021,946 |
|
$ |
102,674,919 |
|
$ |
126,696,865 |
Less: discount to fair value |
|
|
– |
|
|
(950,977) |
|
|
(950,977) |
Total non-current debt |
|
$ |
24,021,946 |
|
$ |
101,723,942 |
|
$ |
125,745,888 |
|