DEBT (Tables)

6 Months Ended

Mar. 31, 2024

DEBT

Schedule of long-term obligations

	March 2024		September 2023
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		4,958,774		5,174,188
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		1,819,711		1,891,638
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 7.40% at March 2024, collateralized by certain of Team Sledd's equipment		240,630		288,237
Note payable, interest payable at a fixed rate of 6.04% with monthly installments of principal and interest of $131,987 through February 2028, collateralized by certain of Henry's equipment		5,511,651		6,276,441
Unsecured note payable, interest payable at a fixed rate of 5.50% with quarterly installments of principal and interest of $727,741 through February 2027		8,000,000		—
		20,530,766		13,630,504
Less current maturities		(4,485,028)		(1,955,065)
	$	16,045,738	$	11,675,439

Schedule of minimum principal maturities of the long-term debt

Fiscal Year Ending
2024 (1)	$	2,553,909
2025		4,667,440
2026		4,773,843
2027		3,574,419
2028		1,329,208
2029 and thereafter		3,631,947
	$	20,530,766