Long Term Debt (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Loan Covenants

As of June 30, 2020, the Company was in compliance with all loan covenants.

Continuity	June 30, 2020			December 31, 2019
Balance, January 1	$	4,380,393			4,351,743
Plus: Proceeds from loans		537,960			1,100,000
Less: Payments on loan		(725,272	)		(1,071,350	)
Balance, end of period	$	4,193,081		$	4,380,393

Schedule of Outstanding Balance Loan

Outstanding balance	June 30, 2020			December 31, 2019
a) Long term debt – Harris Bank	$	-		$	-
b) Long term debt – Harris Bank		2,523,810			3,116,667
c) Long term debt – Harris Bank		985,417			1,100,000
d) Long term debt – Midland States Bank		139,003			152,241
e) Long term debt – Ford Credit		6,891			11,485
f) Long term debt – PPP		322,000			-
g) Long term debt – PPP		215,960			-
Long-term Debt	$	4,193,081		$	4,380,393
Less: current portion		(990,083	)		(1,196,722	)
	$	3,202,998		$	3,183,671

Promissory Note One With Harris Bank [Member]

Schedule of Interest Loan Repayment

The Company has committed to the following repayments:

2020	$	885,714
2021	$	585,714
2022	$	585,714
2023	$	585,714
2024	$	473,811

Promissory Note Two With Harris Bank [Member]

Schedule of Interest Loan Repayment

2020	$	252,083
2021	$	275,000
2022	$	275,000
2023	$	275,000
2024	$	22,917

Promissory Note With Midland States Bank [Member]

Schedule of Interest Loan Repayment

The Company has committed to the following repayments:

2020	$	25,562
2021	$	25,562
2022	$	25,562
2023	$	25,562
2024	$	25,562

Promissory Note With Ford Motor Credit Company [Member]

Schedule of Interest Loan Repayment

The Company has committed to the following repayments:

2020	$	9,188
2021	$	2,297