XML 26 R15.htm IDEA: XBRL DOCUMENT v3.25.2
Notes Payable – Unrelated Parties
 6 Months Ended
Jun. 30, 2025
Nonrelated Party [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Notes Payable – Unrelated Parties

6. Notes Payable – Unrelated Parties

 

Summary of Notes Payable to Unrelated Parties

 

The entire outstanding balance of the Notes Payable to Unrelated Parties was prepaid in full on June 18, 2025. The tables below summarize all notes payable at June 30, 2025 and December 31, 2024, respectively, with the exception of related party notes disclosed in Note 7 “Notes Payable - Related Parties.”

 

Schedule of Notes Payable

   June 30, 2025   December 31, 2024 
Notes payable – “2022 Unrelated Notes”  $-   $807,331 
Less unamortized debt issuance costs   -    (25,395)
Less current portion   -    (781,936)
Long-term portion of notes payable  $-   $- 

 

As of both June 30, 2025 and December 31, 2024, accrued interest for these notes payable with the exception of the related party notes in Note 7, “Notes Payable - Related Parties,” was $0. As of December 31, 2024, unamortized deferred financing costs and unamortized debt discount were reflected within short term liabilities on the condensed consolidated balance sheets, netted with the corresponding notes payable balance.

 

 

With respect to all notes outstanding (other than the notes to related parties), interest expense, including the amortization of debt issuance costs and debt discount, for the three and six months ended June 30, 2025 and 2024 was $39,683 and $70,252, respectively, and $83,159 and $207,884, respectively.