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Bank Debt (Tables) | 9 Months Ended
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Sep. 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 September 30, 2024 |  |  | During the Three-Month Period Ended September 30, 2023 |
|  | Proceeds from Debt Issuance |  |  | Debt Principal Repayments |  |  | Proceeds from Debt Issuance |  |  | Debt Principal Repayments |
Loan #1 |  | $ | — |  |  | $ | 57,671 |  |  | $ | — |  |  | $ | 55,619 |
Loan #2 |  |  | — |  |  |  | 128,534 |  |  |  | — |  |  |  | 124,020 |
Loan #3 |  |  | — |  |  |  | 24,173 |  |  |  | — |  |  |  | 23,002 |
Loan #4 |  |  | — |  |  |  | 53,505 |  |  |  | — |  |  |  | 51,622 |
Loan #5 |  |  | — |  |  |  | 16,719 |  |  |  | — |  |  |  | 15,909 |
Loan #6 |  |  | — |  |  |  | 59,191 |  |  |  | 2,000,000 |  |  |  | 36,582 |
Loan #7 |  |  | — |  |  |  | 28,456 |  |  |  | 1,000,000 |  |  |  | 18,983 |
Total |  | $ | — |  |  | $ | 368,249 |  |  | $ | 3,000,000 |  |  | $ | 325,737 |
|  | During the Nine-Month Period Ended September 30, 2024 |  |  | During the Nine-Month Period Ended September 30, 2023 |
|  | Proceeds from Debt Issuance |  |  | Debt Principal Repayments |  |  | Proceeds from Debt Issuance |  |  | Debt Principal Repayments |
Loan #1 |  | $ | — |  |  | $ | 172,017 |  |  | $ | — |  |  | $ | 166,527 |
Loan #2 |  |  | — |  |  |  | 382,324 |  |  |  | — |  |  |  | 369,154 |
Loan #3 |  |  | — |  |  |  | 71,629 |  |  |  | — |  |  |  | 68,156 |
Loan #4 |  |  | — |  |  |  | 159,171 |  |  |  | — |  |  |  | 153,704 |
Loan #5 |  |  | — |  |  |  | 49,542 |  |  |  | — |  |  |  | 15,909 |
Loan #6 |  |  | — |  |  |  | 174,804 |  |  |  | 2,000,000 |  |  |  | 36,582 |
Loan #7 |  |  | — |  |  |  | 84,619 |  |  |  | 1,000,000 |  |  |  | 18,983 |
Total |  | $ | — |  |  | $ | 1,094,106 |  |  | $ | 3,000,000 |  |  | $ | 829,015 |
|  | 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 September 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 Three-Month Period Ending December 31, |  |  | During the Years Ending December 31, |  |  |  |  |  |  |
|  | 2024 |  |  | 2025 |  |  | 2026 |  |  | 2027 |  |  | 2028 |  |  | Thereafter |  |  | Total |
Loan #1 |  | $ | 58,765 |  |  | $ | 239,876 |  |  | $ | 248,604 |  |  | $ | 257,649 |  |  | $ | 266,537 |  |  | $ | 4,598,457 |  |  | $ | 5,669,888 |
Loan #2 |  |  | 129,801 |  |  |  | 530,738 |  |  |  | 549,881 |  |  |  | 140,436 |  |  |  | — |  |  |  | — |  |  |  | 1,350,856 |
Loan #3 |  |  | 24,476 |  |  |  | 101,000 |  |  |  | 106,146 |  |  |  | 83,143 |  |  |  | — |  |  |  | — |  |  |  | 314,765 |
Loan #4 |  |  | 54,055 |  |  |  | 220,994 |  |  |  | 228,965 |  |  |  | 240,442 |  |  |  | — |  |  |  | — |  |  |  | 744,456 |
Loan #5 |  |  | 16,929 |  |  |  | 69,856 |  |  |  | 73,415 |  |  |  | 77,156 |  |  |  | 81,086 |  |  |  | — |  |  |  | 318,442 |
Loan #6 |  |  | 60,581 |  |  |  | 253,003 |  |  |  | 1,418,558 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,732,142 |
Loan #7 |  |  | 29,617 |  |  |  | 124,364 |  |  |  | 715,704 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 869,685 |
Subtotal |  |  | 374,224 |  |  |  | 1,539,831 |  |  |  | 3,341,273 |  |  |  | 798,826 |  |  |  | 347,623 |  |  |  | 4,598,457 |  |  |  | 11,000,234 |
Debt issuance cost |  |  | (5,583 | ) |  |  | (21,314 | ) |  |  | (13,580 | ) |  |  | (5,420 | ) |  |  | (3,513 | ) |  |  | (11,347 | ) |  |  | (60,757 | )
Debt discount cost |  |  | (5,223 | ) |  |  | (20,891 | ) |  |  | (11,344 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (37,458 | )
Total |  | $ | 363,418 |  |  | $ | 1,497,626 |  |  | $ | 3,316,349 |  |  | $ | 793,406 |  |  | $ | 344,110 |  |  | $ | 4,587,110 |  |  | $ | 10,902,019 |

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