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Bank Debt (Tables) | 3 Months Ended
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Mar. 31, 2024
Bank Debt [Abstract] |
Schedule of Debt Proceeds Received and Principal Repayments | Debt proceeds received and principal repayments made (excluding our $1,000,000 line of credit) during the three-month periods ended March 31, 2024 and 2023 are reflected in the following table by period and by loan:
|  | During the Three-Month Period Ended March 31, 2024 |  |  | During the Three-Month Period Ended March 31 2023 |
|  | Proceeds from Debt Issuance |  |  | Debt Principal Repayments |  |  | Proceeds from Debt Issuance |  |  | Debt Principal Repayments |
Loan #1 |  | $ | — |  |  | $ | 57,198 |  |  | $ | — |  |  | $ | 55,793 |
Loan #2 |  |  | — |  |  |  | 126,408 |  |  |  | — |  |  |  | 122,229 |
Loan #3 |  |  | — |  |  |  | 23,580 |  |  |  | — |  |  |  | 22,437 |
Loan #4 |  |  | — |  |  |  | 52,641 |  |  |  | — |  |  |  | 50,917 |
Loan #5 |  |  | — |  |  |  | 16,309 |  |  |  | — |  |  |  | — |
Loan #6 |  |  | — |  |  |  | 57,470 |  |  |  | — |  |  |  | — |
Loan #7 |  |  | — |  |  |  | 27,900 |  |  |  | — |  |  |  | — |
Total |  | $ | — |  |  | $ | 361,506 |  |  | $ | — |  |  | $ | 251,376 |
|  | During the Year Ended December 31, 2023 |  |  | During the Year Ended December 31 2022 |
|  | Proceeds from Debt Issuance |  |  | Debt Principal Repayments |  |  | Proceeds from Debt Issuance |  |  | Debt Principal Repayments |
Loan #1 |  | $ | — |  |  | $ | 223,222 |  |  | $ | 2,000,000 |  |  | $ | 199,013 |
Loan #2 |  |  | — |  |  |  | 494,455 |  |  |  | — |  |  |  | 477,237 |
Loan #3 |  |  | — |  |  |  | 91,446 |  |  |  | — |  |  |  | 22,160 |
Loan #4 |  |  | — |  |  |  | 205,884 |  |  |  | — |  |  |  | 198,715 |
Loan #5 |  |  | — |  |  |  | 32,017 |  |  |  | — |  |  |  | — |
Loan #6 |  |  | 2,000,000 |  |  |  | 93,054 |  |  |  | — |  |  |  | — |
Loan #7 |  |  | 1,000,000 |  |  |  | 45,696 |  |  |  | — |  |  |  | — |
Total |  | $ | 3,000,000 |  |  | $ | 1,185,774 |  |  | $ | 2,000,000 |  |  | $ | 897,125 |
Schedule of Principal Payments Bank Loans Outstanding | Principal payments (net of debt issuance and debt discount costs) due under bank loans outstanding as of March 31, 2024 (excluding our $1,000,000 line of credit) are reflected in the following table by the year that payments are due:
|  | During the Nine-Month Period Ending December 31, |  |  | During the Years Ending December 31, |  |  |  |  |  |  |
|  | 2024 |  |  | 2025 |  |  | 2026 |  |  | 2027 |  |  | 2028 |  |  | Thereafter |  |  | Total |
Loan #1 |  | $ | 173,650 |  |  | $ | 239,876 |  |  | $ | 248,604 |  |  | $ | 257,649 |  |  | $ | 266,537 |  |  | $ | 4,598,391 |  |  | $ | 5,784,707 |
Loan #2 |  |  | 385,703 |  |  |  | 530,738 |  |  |  | 549,881 |  |  |  | 140,450 |  |  |  | — |  |  |  | — |  |  |  | 1,606,772 |
Loan #3 |  |  | 72,524 |  |  |  | 101,001 |  |  |  | 106,146 |  |  |  | 83,143 |  |  |  | — |  |  |  | — |  |  |  | 362,814 |
Loan #4 |  |  | 160,581 |  |  |  | 220,994 |  |  |  | 228,965 |  |  |  | 240,447 |  |  |  | — |  |  |  | — |  |  |  | 850,987 |
Loan #5 |  |  | 50,161 |  |  |  | 69,856 |  |  |  | 73,415 |  |  |  | 77,156 |  |  |  | 81,086 |  |  |  | — |  |  |  | 351,674 |
Loan #6 |  |  | 177,910 |  |  |  | 253,003 |  |  |  | 1,418,563 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,849,476 |
Loan #7 |  |  | 86,729 |  |  |  | 124,364 |  |  |  | 715,312 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 926,405 |
Subtotal |  |  | 1,107,258 |  |  |  | 1,539,832 |  |  |  | 3,340,886 |  |  |  | 798,845 |  |  |  | 347,623 |  |  |  | 4,598,391 |  |  |  | 11,732,835 |
Debt issuance cost |  |  | (16,750 | ) |  |  | (21,314 | ) |  |  | (13,580 | ) |  |  | (5,420 | ) |  |  | (3,513 | ) |  |  | (11,347 | ) |  |  | (71,924 | )
Debt discount cost |  |  | (15,668 | ) |  |  | (20,891 | ) |  |  | (11,344 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (47,903 | )
Total |  | $ | 1,074,840 |  |  | $ | 1,497,627 |  |  | $ | 3,315,962 |  |  | $ | 793,425 |  |  | $ | 344,110 |  |  | $ | 4,587,044 |  |  | $ | 11,613,008 |

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