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Subsequent Events
 12 Months Ended
Dec. 31, 2023
Subsequent Events [Abstract]  
Subsequent Events

18. Subsequent Events

 

The Company evaluated events through the date of issuance. Subsequent to December 31, 2023, the Company entered into a series of Convertible Promissory Notes totaling $3,135,000 with terms identical to the $3,000,000 Convertible Promissory Note issued on November 8, 2023 (see Footnote 10). The Company has received $1,535,000 of the principal amount with the remainder due in monthly installments through the maturity date of March of 2025.   The Convertible Promissory Notes bear interest at 8.5% per annum payable quarterly in either cash or common stock. The Convertible Promissory Notes contain a provision that allows for a voluntary conversion by the investors into Series B Preferred Stock at $2.38 per share any time prior to the maturity date with mandatory conversion by the Company at the maturity date. The Company shall use the proceeds solely for working capital and general corporate purposes and not pay any dividends or distributions or to advance any funds to its officers, directors or affiliates.