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Notes Payable – Unrelated Parties (Tables) - Nonrelated Party [Member]
9 Months Ended
Sep. 30, 2024
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Notes Payable

The tables below summarize all notes payable at September 30, 2024 and December 31, 2023, respectively, other than the related party notes disclosed in Note 8 “Notes Payable - Related Parties.”

 

   September 30, 2024   December 31, 2023 
Notes payable – “2022 Unrelated Notes”  $807,331   $2,364,500 
Less unamortized debt issuance costs   (31,744)   (155,258)
Long-term portion of notes payable  $775,587   $2,209,242 
Schedule of Subordinated Notes

The principal terms of the 2022 Unrelated Notes, which are subordinated notes, as of September 30 are as follows:

Schedule of Subordinated Notes 

 

Issue Date  Interest Rate   Interest Due   Principal Due  
April 1, 2022   12%  Quarterly   December 31, 2025