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LONG-TERM DEBT (Tables) | 9 Months Ended
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Sep. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | Outstanding principal balances of long-term debt is comprised of the following:
| Maturity Date | September 30, 2025 |  | December 31, 2024
Market-indexed notes, at fair value: |  |  |  |
LMATT Series 2024, Inc. | December 31, 2024 | $ | — |  |  | $ | 14,591,663 |
Secured borrowing: |  |  |  |
Senior Secured Credit Facility | December 10, 2030 | 149,250,000 |  |  | 100,000,000 |
Deferred issuance costs |  | (3,801,371) |  |  | (3,797,594) |
Secured borrowing, at fair value: |  |  |  |
LMA Income Series, LP | December 31, 2025 | — |  |  | 22,838,673 |
LMA Income Series II, LP | March 31, 2026 | 119,055,194 |  |  | 105,856,422 |
Deferred issuance costs |  | (556,323) |  |  | (736,323) |
Unsecured borrowing: |  |  |  |
Fixed Rate Senior Unsecured Notes | November 15, 2028 | 135,379,475 |  |  | 133,377,075 |
| Maturity Date | September 30, 2025 |  | December 31, 2024
Market-indexed notes, at fair value: |  |  |  |
Sponsor PIK Note | July 5, 2028 | 13,699,103 |  |  | 12,525,635 |
Deferred issuance costs and discounts |  | (3,755,423) |  |  | (3,837,451) |
Total debt |  | 409,270,655 |  |  | 380,818,100 |
Less current portion of long-term debt |  | (119,498,871) |  |  | (38,430,336) |
Total long-term debt |  | $ | 289,771,784 |  |  | $ | 342,387,764 |
Schedule of Maturities of Long-Term Debt | Maturities of long-term debt (secured and unsecured) outstanding, including current maturities, excluding unamortized debt issuance costs, as of September 30, 2025 are as follows:
Years | Amount
2025 remaining | $ | 250,000 |
2026 | 120,055,194 |
2027 | 1,000,000 |
2028 | 150,078,578 |
2029 | 1,000,000 |
Thereafter | 145,000,000 |
Total | $ | 417,383,772 |

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- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
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- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-1 + Details
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