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Notes Payable - Related Parties (Tables)
 9 Months Ended
Sep. 30, 2023
Related Party Transaction [Line Items]  
Schedule of Notes Payable

The tables below summarize all notes payable at September 30, 2023 and December 31, 2022, respectively, with the exception of related party notes disclosed in Note 9 “Notes Payable - Related Parties.”

 

   September 30, 2023   December 31, 2022 
2022 Unrelated Notes  $2,364,500   $2,364,500 
2020 Notes   -    980,450 
Total notes payable  $2,364,500   $3,344,950 
Less unamortized debt issuance costs   (186,310)   (300,904)
Less unamortized debt discount   -    (22,045)
Less current portion   -    (936,966)
Long-term portion of notes payable  $2,178,190   $2,085,035 

 

Subordinated Notes Payable   Issue Date   Interest Rate     Interest Due   Principal Due
2022 Unrelated Notes   April 1, 2022     12 %   Quarterly   March 30, 2025
Schedule of Future Minimum Principal Payments of Notes Payable

Future minimum principal payments of the Notes Payable to Unrelated Parties are as follows:

 

As of September 30,   Amount  
2025   $ 2,364,500  
Total   $ 2,364,500  
Related Party [Member]  
Related Party Transaction [Line Items]  
Schedule of Notes Payable

The tables below summarize all notes payable to related parties at September 30, 2023 and December 31, 2022:

 

    September 30, 2023     December 31, 2022  
Notes payable – “2022 Related Note”   $ 600,000     $ 600,000  
                 
Less unamortized debt issuance costs     (47,277 )     (70,916 )
Long-term portion of notes payable   $ 552,723     $ 529,084  

 

Subordinated Notes Payable   Issue Date   Interest Rate     Interest Due   Principal Due
2022 Related Note   April 1, 2022     12 %   Quarterly   March 30, 2025
Schedule of Future Minimum Principal Payments of Notes Payable

Future minimum principal payments of the 2022 Notes to related parties are as follows:

 

As of September 30,   Amount  
2025   $ 600,000  
Total   $ 600,000