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Notes Payable
 12 Months Ended
Dec. 31, 2024
Notes Payable [Abstract]  
Notes Payable
(6)
Notes Payable


AFCO Credit Corporation (AFCO)

In June 2022, the Company executed a Promissory Note with AFCO to finance certain insurance premiums totaling $465,380, requiring the Company to pay $47,539 in a down payment and make monthly installment payments. The annual interest rate was 5.7% and the monthly installment payment was $47,539, which represents principal and interest. The final installment payment was paid in March of 2023.


In July 2023, the Company executed another Promissory Note with AFCO to finance certain insurance premiums totaling $469,042, requiring the Company to pay $48,423 in a down payment and make monthly installment payments. The annual interest rate was 8.6% and the monthly installment payment was $48,423, which represents principal and interest. The Promissory Note was paid in full without penalty in November 2023.

As of December 31, 2024 and December 31, 2023, the principal balance on the AFCO note was $0. Interest expense in connection with the AFCO Promissory Note was $12,304 for the year ended December 31, 2023.