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Debt (Tables) | 9 Months Ended
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Sep. 30, 2024
Debt Disclosure [Abstract] |
Schedule of Long Term Debt | Debt as of September 30, 2024 and December 31, 2023 consists of the following:
| September 30, 2024 |  | December 31, 2023
13.75% Senior Notes due 2026, net | $ | 11,339,350 |  |  | $ | — |
12.0% Senior Notes due 2024, net | — |  |  | 18,426,247 |
Equipment financing | 5,958,237 |  |  | 6,817,283 |
Balance at end of period | $ | 17,297,587 |  |  | $ | 25,243,530 |
The balance of the 2024 Notes as of September 30, 2024 and December 31, 2023 is as follows:
| September 30, 2024 |  | December 31, 2023
13.75% Senior Notes due 2026 | $ | 11,950,000 |  |  | $ | — |
Warrants | (411,999) |  |  | — |
Issuance costs | (198,651) |  |  | — |
2024 Notes, net | $ | 11,339,350 |  |  | $ | — |
The balance of the 2022 Notes as of September 30, 2024 and December 31, 2023 is as follows:
| September 30, 2024 |  | December 31, 2023
12.0% Senior Notes due 2024 | $ | — |  |  | $ | 19,950,000 |
Warrants | — |  |  | (653,123) |
Issuance costs | — |  |  | (870,630) |
2022 Notes, net | $ | — |  |  | $ | 18,426,247 |
Schedule of Percentages of the Principal Amount | The 2022 Notes were redeemable, at the Company’s option, in whole or in part, at any time or in part from time to time, on and after December 30, 2022, upon not less than fifteen (15) and not more than sixty (60) days’ notice, at the following redemption prices (“Redemption Prices” ) (expressed as percentages of the principal amount thereof) if redeemed during the respective period set forth below, plus, in each case, accrued and unpaid interest, if any, to the date of redemption (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date):
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 Contractual Payment Obligations | Future contractual payment obligations under the Financing as of September 30, 2024 are as follows:
For the Years Ending December 31, |  | Total
Remainder of 2024 |  | $ | 294,816 |
2025 |  | 1,223,293 |
2026 |  | 1,296,901 |
2027 |  | 1,119,021 |
|  | 3,934,031 |
2027 purchase price |  | 2,024,206 |
Total |  | $ | 5,958,237 |

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