December 31,

2021

2020

Loan from American First National Bank. Maturity date is April 10, 2028. The loan, in the original amount of $4,209,608, provided funding for the expansion of the warehouse, additional office space, and a new Controlled Environment. The loan is secured by the Company’s land and buildings. The interest rate is equal to prime rate plus 0.25%, not to be less than 5.0%. The interest rate was 5.0% at December 31, 2021.

$

2,103,308

$

2,378,100

Loan from Independent Bank pursuant to the Paycheck Protection Program. This loan was forgiven in May 2021.

—

1,363,000

2,103,308

3,741,100

Less: current portion

(289,114)

(1,030,763)

$

1,814,194

$

2,710,337