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Bank Debt (Tables)

6 Months Ended

Jun. 30, 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) are reflected by loan during the periods as described in the tables below:

		During the Three-Month Period Ended June 30, 2024								During the Three-Month Period Ended June 30, 2023
		Proceeds from Debt Issuance				Debt Principal Repayments				Proceeds from Debt Issuance				Debt Principal Repayments
Loan #1		$	—			$	57,148			$	—			$	55,114
Loan #2			—				127,382				—				122,905
Loan #3			—				23,875				—				22,717
Loan #4			—				53,026				—				51,165
Loan #5			—				16,513				—				—
Loan #6			—				58,143				—				—
Loan #7			—				28,264				—				—
Total		$	—			$	364,351			$	—			$	251,901

		During the Six-Month Period Ended June 30, 2024								During the Six-Month Period Ended June 30, 2023
			Proceeds from Debt Issuance				Debt Principal Repayments				Proceeds from Debt Issuance				Debt Principal Repayments
Loan #1		$	—			$	114,346			$	—			$	110,907
Loan #2			—				253,791				—				245,134
Loan #3			—				47,455				—				45,155
Loan #4			—				105,666				—				102,081
Loan #5			—				32,822				—				—
Loan #6			—				115,613				—				—
Loan #7			—				56,163				—				—
Total		$	—			$	725,856			$	—			$	503,277

		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 June 30, 2024 (excluding our $1,000,000 line of credit) are reflected in the following table by the year that payments are due:

		During the Six-Month Period Ending December 31,				During the Years Ending December 31,
		2024				2025				2026				2027				2028				Thereafter				Total
Loan #1		$	116,468			$	239,876			$	248,604			$	257,649			$	266,537			$	4,598,425			$	5,727,559
Loan #2			258,326				530,738				549,881				140,445				—				—				1,479,390
Loan #3			48,649				101,001				106,146				83,143				—				—				338,939
Loan #4			107,557				220,994				228,965				240,446				—				—				797,962
Loan #5			33,648				69,856				73,415				77,156				81,086				—				335,161
Loan #6			119,768				253,003				1,418,562				—				—				—				1,791,333
Loan #7			58,265				124,364				715,512				—				—				—				898,141
Subtotal			742,681				1,539,832				3,341,085				798,839				347,623				4,598,425				11,368,485
Debt issuance cost			(11,167	)			(21,314	)			(13,580	)			(5,420	)			(3,513	)			(11,347	)			(66,341	)
Debt discount cost			(10,446	)			(20,891	)			(11,344	)			—				—				—				(42,681	)
Total		$	721,068			$	1,497,627			$	3,316,161			$	793,419			$	344,110			$	4,587,078			$	11,259,463

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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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

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