DEBT (Tables)

9 Months Ended

Jun. 30, 2022

DEBT

Schedule of long-term obligations

	June 2022		September 2021
Real Estate Loan, interest payable at a fixed rate of 3.625% with monthly installments of principal and interest of $47,399 through February 2025 with remaining principal due March 2025, collateralized by three distribution facilities	$	4,190,214	$	4,498,213
Note payable, interest payable at a fixed rate of 4.50% with quarterly installments of principal and interest of $49,114 through June 2023 with remaining principal due September 2023		1,006,381		1,117,254
Note payable, interest payable at a fixed rate of 4.10% with monthly installments of principal and interest of $53,361 through June 2033 with remaining principal due July 2033, collateralized by Team Sledd’s principal office and warehouse		5,674,355		—
Note payable, interest payable at a fixed rate of 3.25% with monthly installments of principal and interest of $17,016 through August 2034 with remaining principal due September 2034, collateralized by Team Sledd’s principal office and warehouse		2,086,721		—
Note payable with monthly installments of principal and interest of $7,934 through February 2025 with remaining principal due March 2025, and an effective variable rate of 2.90% at June 2022, collateralized by certain of Team Sledd’s equipment		406,572		—
		13,364,243		5,615,467
Less current maturities		(1,204,348)		(561,202)
	$	12,159,895	$	5,054,265

Schedule of minimum principal maturities of the long-term debt

Fiscal Year Ending
2022 (1)	$	302,592
2023		2,050,814
2024		1,120,121
2025		4,011,184
2026 and thereafter		5,879,532
	$	13,364,243

(1) Represents payments for the remaining three months of Fiscal 2022.