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Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2024
Accounting Policies [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | Our assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023 are as follows:
| September 30, 2024 |  | December 31, 2023
| Level 1 | Level 2 | Level 3 | Fair Value |  | Level 1 | Level 2 | Level 3 | Fair Value
Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents: |  |  |  |  |  |  |  |  |
Money market securities | $ | 14,241 |  | $ | — |  | $ | — |  | $ | 14,241 |  |  | $ | 14,432 |  | $ | — |  | $ | — |  | $ | 14,432 |
Liabilities: |  |  |  |  |  |  |  |  |
Warrant liabilities | $ | — |  | $ | — |  | $ | — |  | $ | — |  |  | $ | — |  | $ | — |  | $ | 967,257 |  | $ | 967,257 |
Schedule of Fair Value Disclosure of Asset and Liability Not Measured at Fair Value | The fair value and its classification within the fair value hierarchy for financial assets and liabilities not reported at fair value within the consolidated balance sheets as of September 30, 2024 and December 31, 2023 are as follows:
| September 30, 2024
| Carrying Amount | Level 1 | Level 2 | Level 3 | Balance at Fair Value
Assets: |  |  |  |  |
Cash and cash equivalents(1) | $ | 80,048,264 |  | $ | 80,048,264 |  | $ | — |  | $ | — |  | $ | 80,048,264 |
Restricted cash(2) | 8,280,624 |  | 8,280,624 |  | — |  | — |  | 8,280,624 |
Notes receivable, net | 132,787,268 |  | — |  | — |  | 132,787,268 |  | 132,787,268 |
Total assets | $ | 221,116,156 |  | $ | 88,328,888 |  | $ | — |  | $ | 132,787,268 |  | $ | 221,116,156 |
Liabilities: |  |  |  |  |
Line of credit, net | 93,937,724 |  | — |  | 93,937,724 |  | — |  | 93,937,724 |
Total liabilities | $ | 93,937,724 |  | $ | — |  | $ | 93,937,724 |  | $ | — |  | $ | 93,937,724 |
| December 31, 2023
| Carrying Amount | Level 1 | Level 2 | Level 3 | Balance at Fair Value
Assets: |  |  |  |  |
Cash and cash equivalents(1) | $ | 67,609,780 |  | $ | 67,609,780 |  | $ | — |  | $ | — |  | $ | 67,609,780 |
Restricted cash(2) | 3,075,011 |  | 3,075,011 |  | — |  | — |  | 3,075,011 |
Notes receivable, net | 130,632,641 |  | — |  | — |  | 130,632,641 |  | 130,632,641 |
Total assets | $ | 201,317,432 |  | $ | 70,684,791 |  | $ | — |  | $ | 130,632,641 |  | $ | 201,317,432 |
Liabilities: |  |  |  |  |
Long term debt | $ | 250,000 |  | $ | — |  | $ | 250,000 |  | $ | — |  | $ | 250,000 |
Line of credit, net | 94,380,906 |  | — |  | 94,380,906 |  | — |  | 94,380,906 |
Total liabilities | $ | 94,630,906 |  | $ | — |  | $ | 94,630,906 |  | $ | — |  | $ | 94,630,906 |
(1)Excludes $14,241 and $14,432 as of September 30, 2024 and December 31, 2023, respectively, relating to money market securities that are reported at fair value. (2)Includes both restricted cash, current and restricted cash, non-current as disclosed on the consolidated balance sheets.
Schedule of Accounting Standards Update and Change in Accounting Principle | Recently Issued Accounting Guidance, Not Yet Adopted Within Our Consolidated Financial Statements
Standard | Description | Date of Planned Adoption | Effect on Consolidated Financial Statements
ASU 2023-07, Segment Reporting Improvements to Reportable Segment Disclosures | This ASU requires disclosure of incremental segment information on an annual basis (and interim basis beginning January 1, 2025) for all public entities, including entities with one reportable segment. Such incremental disclosures include information about significant segment expenses, how chief operating decision makers measure a segment’s profit or loss, and qualitative information about how a chief operating decision maker assesses segment performance. | January 1, 2024 (On an annual basis) January 1, 2025 (On an interim basis) | We do not expect the adoption of this ASU to have a material impact on our consolidated financial statements. We will disclose information about significant segment expenses, how management assesses our single segment’s performance, and other required disclosures in our 2024 annual consolidated financial statements on a retrospective basis.
ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures | This ASU requires enhanced disclosures on the income tax rate reconciliation, income taxes paid, and other income tax-related disclosures. Such disclosures include specific categories in the rate reconciliation, qualitative information about significant components of income tax, and disaggregation of income taxes paid by federal, state, and local jurisdiction. | January 1, 2025 | We do not expect the adoption of this ASU to have a material impact on our consolidated financial statements. We will include the enhanced disclosure requirements in our 2025 annual consolidated financial statements on a prospective basis.

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 60 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147476176/805-60-65-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-3 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482989/270-10-45-12 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482989/270-10-45-13 + Details
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