Annual report pursuant to Section 13 and 15(d)

Term Loan

v3.22.1
Term Loan
12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Term Loan

Note 15 – Term Loan

 

Term debt as of December 31, 2021 and 2020 consists of the following:

 

    2021     2020  
Bank of America auto loan, interest at 2.37% per annum, monthly principal and interest payments of $1,448, collateralized by vehicle. Vehicle was sold and the loan paid off in 2021.   $ -     $ 81,812  
                 
Bank of America auto loan, interest at 2.49% per annum, monthly principal and interest payments of $1,505, maturing July 2025, collateralized by vehicle.     61,710       -  
                 
Bank of America auto loan, interest at 2.24% per annum, monthly principal and interest payments of $654, maturing October 2025, collateralized by vehicle.     28,162       -  
                 
Total notes payable     89,872       81,812  
Less: Current maturities     (23,203 )     (15,566 )
                 
Long term debt   $ 66,669     $ 66,246