March 31, 2019

December 31, 2018

Notes payable bearing interest at 5.00%. The notes’ principal, plus any accrued and unpaid interest is due May 1, 2021. Interest is paid monthly.

2,300,000

Notes payable bearing interest at 5.00%. Principal and accrued interest is payable in six equal installments on each six-month anniversary of the issuance date of January 11, 2019. The notes are secured by the security interests, and subordinated to the Company’s senior indebtedness.

769,920

-

Note payable bearing interest at 5.50% is secured by a company-owned vehicle. The note has a 60-month term with maturity in January 2024. Principal and accrued interest are paid in accordance with a monthly amortization schedule.

291,159

-

Promissory note payable bearing interest of 6.75%. The note has a 74-month term with maturity in May 2023. Principal and accrued interest are paid in accordance with a monthly amortization schedule.

204,888

-

Promissory note payable bearing interest of 4.45%. The note has a 78-month term with maturity in May 2022. Principal and accrued interest are paid in accordance with a monthly amortization schedule.

331,119

-

Promissory note payable under a revolving line of credit bearing variable interest starting at 4.75%. The note has a 12-month term with principal and accrued interest due in lump sum in June 2019. The borrowing limit is $250,000.

53,543

-

Promissory note payable under straight line of credit bearing interest starting at 5.25% for Year 1 and decreasing to 5.01% thereafter. Accrued interest is to be paid monthly from July 2018 - June 2019. Principal and accrued interest are to be paid monthly starting in July 2019 until maturity in June 2024. Borrowing limit under the note is $200,000. The notes are secured by the assets of the Company and include debt covenants requiring a Current Ratio of 1.75 to 1.00 and a Debt Service Coverage Ratio of 1.25 to 1.00. The Company must also provide annual financial statements and tax returns. The Company has maintained compliance with all debt covenants.

197,929

-

Promissory notes payable bearing interest between 2.99% - 3.71%. The notes have 60-month terms with maturity dates between July 2019 – June 2020. Principal and accrued interest are paid monthly. The notes are secured by the specific vehicle underlying the loan.

47,395

-

Total notes payable

4,195,953

2,300,000

Less current portion

580,647

-

Long-term portion of notes payable

$

3,615,306

$

2,300,000