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Notes Payable – Unrelated Parties (Tables)
 9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Schedule of Notes Payable to Unrelated Parties

The table below summarizes all notes payable at September 30, 2021 and December 31, 2020, respectively, with the exception of related party notes disclosed in Note 10 “Notes Payable - Related Parties.”

 

   September 30, 2021   December 31, 2020 
PPP Note (a)  $-   $838,700 
2020 Notes   2,000,000    2,000,000 
Total notes payable  $2,000,000   $2,838,700 
Less unamortized debt issuance costs   (146,963)   (224,767)
Less unamortized debt discount   (151,111)   (231,111)
Less current portion   -    (580,638)
Long-term portion of notes payable  $1,701,926   $1,802,184 

 

  (a) The full amount of the principal and interest on the PPP Note was forgiven in its entirety in January 2021.
Schedule of Future Minimum Principal Payments of Notes Payable

Future minimum principal payments of the 2020 Notes are as follows:

 

As of September 30,  Amount 
2023  $2,000,000 
Total  $2,000,000