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Debt (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt consisted of the following at March 31, 2024 and December 31, 2023:

 Schedule of Long-term Debt

		March 31, 2024				December 31, 2023
Note payable		$	35,000,000			$	35,000,000
Add: PIK interest (added to principal)			3,031,170				2,565,660
Less: unamortized debt issuance costs			(419,921	)			(480,810	)
Less: unamortized debt discount			(45,019	)			(49,439	)
Total long-term debt		$	37,566,230			$	37,035,411

Schedule of Long Term Debt Future Principal Payments

Future principal payments, including the incurred PIK interest, are as follows:

 Schedule of Long Term Debt Future Principal Payments

		Years Ending December 31,
2025		$	14,261,689
2026			19,015,585
2027			4,753,896
Total		$	38,031,170

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Tabular disclosure of maturity and sinking fund requirement for long-term debt.

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