LongTerm Debt and Other ShortTerm Borrowings (Tables)

3 Months Ended

Mar. 31, 2024

LongTerm Debt and Other ShortTerm Borrowings

Schedule Of Long term debt and Other Short-Term Borrowings

	March  31, 2024		December 31, 2023
Long-term debt:
Note payable to Discover, pursuant to a Secured Promissory Note dated December 24, 2021 and funded on January 3, 2022 in the original amount of $26,315,789 with interest and principal due at maturity on January 1, 2027. The note bears interest at a rate equal to the Wall Street Journal Prime Rate (3.25%) as of the effective date and is secured by lien on substantially all of the Company’s assets. The balance shown is net of unamortized debt discount of $ 8,912,672 and $9,714,868 at March 31, 2024 and December 31, 2023, respectively.		17,403,117		16,600,921
Note payable to Discover pursuant to a 10.0% Secured Promissory Note dated April 23, 2021 in the original amount of $2,500,000 with interest and principal due at maturity on January 1, 2027. Pursuant to an amendment dated December 24, 2021 the interest rate was adjusted to the Wall Street Journal Prime Rate (3.25%) as of the amendment date. The Note is secured by a lien on substantially all of the Company’s assets.		2,500,000		2,500,000
Note payable to Discover, pursuant to a 10.0% Secured Promissory Note dated December 22, 2020 in the original amount of $12,000,000 with interest and principal due at maturity on January 1, 2027. Pursuant to an amendment dated December 24, 2021 the interest rate was adjusted to the Wall Street Journal Prime Rate (3.25%) as of the amendment date. The Note is secured by a lien on substantially all of the Company's assets.		12,000,000		12,000,000

Note payable to Discover, pursuant to a 10.0% Secured Promissory Note dated December 11, 2020 in the original amount of $6,000,000 with interest and principal due at maturity on January 1, 2027. Pursuant to an amendment dated December 24, 2021 the interest rate was adjusted to the Wall Street Journal Prime Rate (3.25%) as of the amendment date. The Note is secured by a lien on substantially all of the Company’s assets.		6,000,000			6,000,000
On May 5, 2023, Viking signed a securities purchase agreement with FK Venture LLC under which FK Venture LLC agreed to purchase convertible promissory notes from the Company in the amount of $800,000 on the 5th day of each month commencing May 5, 2023 for 6 months, for a minimum commitment of $4,800,000. FK Venture LLC has the right to purchase up to $9,600,000. The notes bear interest at 12% per annum. The maturity date of the notes is the earlier of (i) July 1, 2025, or (ii) 90 days following the date that the Company completes a direct up-listing of its common stock to a national securities exchange (not including any merger or combination with Camber). FK Venture LLC shall have the right to convert all or any part of the outstanding and unpaid principal balance into common stock of the Company at a conversion price of $0.4158 per share. At March 31, 2024 and December 31, 2023, the Buyer had purchased six notes and converted two of these notes subsequent to the closing of the Merger in exchange for 3,848,004 shares of the Company’s common stock. The Company recorded a loss on early extinguishment of $35,402 related to these conversions. The balance at March 31, 2024 and December 31, 2023 is shown is net of unamortized discount of $407,189 and $488,270, respectively.		2,792,811			2,711,730
Loan of $150,000 dated July 1, 2020 from the U.S. Small Business Administration. The loan bears interest at 3.75% and matures on July 28, 2050. The loan is payable in monthly installments of $731 with the remaining principal and accrued interest due at maturity. Installment payments were originally due to start 12 months from the date of the note but the date was extended to January 2023. Accrued interest from the original installment due date to January 2023 was capitalized to the loan principal balance		161,343			162,019
Total long-term debt		40,857,271			39,974,670
Less current portion and debt discount		(2,769	)		(2,743	)
Total long-term debt, net of current portion and debt discount	$	40,854,502		$	39,971,927

Summary Of Principal maturities of long-term debt

Twelve-month period ended March 31,
	Principal		Unamortized Discount			Net
2025	$	2,769	$	-		$	2,769
2026		3,202,848		(407,189	)		2,795,659
2027		46,818,746		(8,912,672	)		37,906,074
2028		3,069		-			3,069
2029		3,186		-			3,186
Thereafter		146,514		-			146,514
	$	50,177,132	$	(9,319,861	)	$	40,857,271