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Credit Facility (Tables)
3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt

Long-term debt consisted of the following:

 

 

 

March 31,

 

 

December 31,

 

 

 

2025

 

 

2024

 

Term loan payable

 

$

15,000,000

 

 

$

15,000,000

 

Second supplemental end of term charge

 

 

100,000

 

 

 

33,333

 

Unamortized debt issuance costs

 

 

(1,471

)

 

 

(1,961

)

Less: current portion

 

 

 

 

 

(31,372

)

Total long-term debt

 

$

15,098,529

 

 

$

15,000,000

 

Schedule of Principal Payments Including End of Term Charges

Future principal payments, including the Second Supplemental End of Term Charge, are as follows for the years ending December 31:

 

2025

 

$

 

2026

 

 

15,300,000

 

Total

 

$

15,300,000