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Debt (Tables)
3 Months Ended
Mar. 31, 2024
Debt  
Long-term debt

 

 

 March 31,

 

 

 December 31,

 

 

 

 2024

 

 

 2023

 

 

 

 

 

 

 

 

2022 Notes, net

 

$18,723,166

 

 

$18,426,247

 

Equipment financing

 

 

6,535,107

 

 

 

6,817,283

 

Balance at end of period

 

$25,258,273

 

 

$25,243,530

 

Schedule of Note and Warrant Exchange

 

 

 March 31,

 

 

 December 31,

 

 

 

 2024

 

 

 2023

 

 

 

 

 

 

 

 

12.0% Senior Unsecured Notes

 

$19,950,000

 

 

$19,950,000

 

Warrants

 

 

(571,482)

 

 

(653,123)

Issuance costs

 

 

(655,352)

 

 

(870,630)

2022 Notes, net

 

$18,723,166

 

 

$18,426,247

 

Schedule of percentages of the principal amount

Period:

 

Percentage

 

 

 

 

 

December 30, 2022 to December 29, 2023

 

 

102.00%

December 30, 2023 to September 29, 2024

 

 

101.00%

September 30, 2024 to December 29, 2024

 

 

100.00%
Schedule of Future contractual payment obligations

For the Years

 

 

 Ending

 

 

 December 31,

 

 Total

 

Remainder of 2024

 

$871,686

 

2025

 

 

1,223,293

 

2026

 

 

1,296,901

 

2027

 

 

1,119,021

 

 

 

 

4,510,901

 

2027 purchase price

 

 

2,024,206

 

Total

 

$6,535,107