LONG-TERM DEBT (Tables)

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Long-term Debt

Long-term debt consisted of the following as of September 30, 2021 and December 31, 2020:

	September 30, 2021			Dec 31, 2020
$66,076 loan for equipment with monthly payments of $1,537 with interest at 5.55%, due July 2021.	$	7,582		$	16,440
$75,000 loan for equipment with monthly payments of $2,489 with interest at 12.67%, due April 2021.	7,312			14,934
$142,000 loan for equipment with monthly payments of $4,620 with interest at 11.21%, due April 2021.	—			18,056
$70,000 loan for equipment with monthly payments of $2,300 with interest at 11.92%, due April 2021.	—			8,974
$499,520 loan for equipment with monthly payments of $8,863 with interest at 2.49% due December 2023.	257,376			333,599
$499,895 loan for equipment with monthly payments of $11,054 with interest at 2.95% due July 2023.	277,908			371,490
$212,675 loan for equipment with monthly payments of $7,239 with interest at 6.75% due October 2022.	123,600			168,397
$40,000,000 loan for equipment with monthly payments of $1,845,747 with interest at 10.00% due June 2023.	35,424,692		[A]	—
$10,641,362 loan for equipment with monthly payments of $491,045 with interest at 10.00% due June 2023.	9,424,174		[B]	—
$14,077,800 loan for equipment with monthly payments of $649,619 with interest at 10.00% due June 2023.	12,467,543		[C]	—
	57,990,187			931,890
Less current portions, deferred costs, & discounts
Outstanding loan	31,251,305			449,447
Deferred debt issuance costs	1,355,285			—
Discounts from issuance of stock	1,216,152			—
Discounts from issuance of warrants	1,749,472			—
	$	22,417,973		$	482,443

[A] The WhiteHawk Promissory Note has a term of twenty-four months. Refer to Note 14 – Stock Issued Under Financing Agreements and Warrants for further discussions.

[B] Arctos/NYDIG Financing Agreement [loan #1] with a term of twenty-four months. Refer to Note 14 - Stock Issued Under Financing Agreements and Warrants for further discussions.

[C] Arctos/NYDIG Financing Agreement [loan #2] with a term of twenty-four months. Refer to Note 14 - Stock Issued Under Financing Agreements and Warrants for further discussions.

Future Scheduled Maturities on the Outstanding Borrowings

Future scheduled maturities on the outstanding borrowings for each of the next three years as of September 30, 2021 are as follows:

Years ending December 31:
2021	$	7,780,702
2022	32,620,394
2023	17,589,091
	$	57,990,187