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LINES OF CREDIT
 9 Months Ended
Sep. 30, 2024
Nonrelated Party [Member]  
Defined Benefit Plan Disclosure [Line Items]  
LINES OF CREDIT

14. LINES OF CREDIT

 

Principal due under the lines of credit was as follows at September 30, 2024 and December 31, 2023:

 

SCHEDULE OF LINE OF CREDIT 

   September 30, 2024   December 31, 2023 
           
Lines of credit 15% - 18%  $3,725,000   $3,200,000 

 

The lines of credit matured on September 30, 2024, with an extension available at the Company’s option. The Company has extended the maturity dates to June 30, 2025 with an option to extend to September 30, 2025.

 

Interest expense under lines of credit was $178,951 and $60,123 for the three months ended September 30, 2024, and 2023, respectively, and $486,171 and $79,479 for the nine months ended September 30, 2024 and 2023, respectively.