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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
6 Months Ended
Jun. 30, 2020
FAIR VALUE OF FINANCIAL INSTRUMENTS  
Schedule of carrying value and estimated fair value of financial instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2020

 

December 31, 2019

 

    

Carrying
Value

    

Estimated Fair Value

    

Carrying
Value

    

Estimated Fair Value

Cash and Cash Equivalents - Level 1

 

$

1,227,059

 

$

1,227,059

 

$

12,341,978

 

$

12,341,978

Long-Term Debt - Level 2

 

 

69,507,464

 

 

69,507,464

 

 

 —

 

 

 —

 

Schedule of fair value of assets measured on recurring basis by Level

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value at Reporting Date Using

 

 

 

 

 

Quoted Prices in

 

 

 

 

Significant

 

 

 

 

 

Active Markets

 

Significant Other

 

Unobservable

 

 

 

 

 

for Identical

 

Observable Inputs

 

Inputs

 

    

6/30/2020

    

Assets (Level 1)

    

(Level 2)

    

(Level 3)

Interest Rate Swap

 

$

(646,882)

 

$

 

$

(646,882)

 

$