Related Party Note Payable	9 Months Ended
Sep. 30, 2022
Related Party Note Payable
Related Party Note Payable	(7) Related Party Note Payable On August 10, 2022, the Company received $5,000,000 of debt financing from Werth Family Investment Associates LLC (WFIA). Peter Werth, manager of WFIA, is a member of the Company’s Board of Directors. This promissory note is unsecured with interest accruing at 15% per annum. Outstanding principal and all accrued and unpaid interest are due and payable on August 8, 2025, or 120 days following written demand made by WFIA during the first five business days of a calendar quarter beginning April 1, 2023. The Company may prepay the note, in whole or in part, without premium or penalty; provided, that no amount repaid may be reborrowed. As of September 30, 2022, the entire $5,000,000 was outstanding on the note. During the three months ended September 30, 2022, the Company recognized $104,839 of interest expense relating to this note. This interest expense is included in accrued expenses on the consolidated balance sheet at September 30, 2022.

Related Party Note Payable

9 Months Ended

Sep. 30, 2022

(7) Related Party Note Payable

On August 10, 2022, the Company received $5,000,000 of debt financing from Werth Family Investment Associates LLC (WFIA). Peter Werth, manager of WFIA, is a member of the Company’s Board of Directors. This promissory note is unsecured with interest accruing at 15% per annum. Outstanding principal and all accrued and unpaid interest are due and payable on August 8, 2025, or 120 days following written demand made by WFIA during the first five business days of a calendar quarter beginning April 1, 2023. The Company may prepay the note, in whole or in part, without premium or penalty; provided, that no amount repaid may be reborrowed. As of September 30, 2022, the entire $5,000,000 was outstanding on the note.

During the three months ended September 30, 2022, the Company recognized $104,839 of interest expense relating to this note. This interest expense is included in accrued expenses on the consolidated balance sheet at September 30, 2022.