LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2023

LONG-TERM DEBT

Schedule of long-term debt

Long-term debt consists of the following:

	December 31,
	2023		2022
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 8.75% at December 31, 2023.	$	1,537,510	$	1,819,376
Less: current portion		(303,991)		(285,954)
	$	1,233,519	$	1,533,422

Schedule of aggregate maturities of long-term debt

The aggregate maturities of long-term debt as of December 31, 2023, are as follows:

2024	$	303,991
2025		332,480
2026		363,205
2027		396,770
2028		141,064
	$	1,537,510