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Notes Payable (Tables) | 12 Months Ended
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Dec. 31, 2024
Notes Payable [Abstract] |
Summary of Notes Payable | Notes payable consists of the following at December 31, 2024 and December 31, 2023, respectively:
|  | December 31, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
On April 25, 2023, the Company received $400,000 pursuant to a note and warrant purchase agreement from an accredited investor, as lender. The note bears interest at 8% per annum, payable in cash semi-annually on June 30 and December 31, with appropriate pro rata adjustments made for any partial interest accrual period. The noteholder also received warrants to purchase 100,000 shares of common stock, exercisable at $2.50 per share over a ten-year term. The warrants were exercised on April 15, 2024, and the proceeds were used to partially repay the note. The remaining portion of the note matured on April 25, 2024. |  | $ | - |  |  | $ | 400,000 |
On April 8, 2022, the Company received $80,000 pursuant to a note and warrant purchase agreement from an accredited investor, as lender. The unsecured note bears interest at 6% per annum, compounded semi-annually, and was payable in cash semi-annually on June 30 th and December 31 st. On August 23, 2022, the note was amended to update the terms of the interest payment to be payable at the earlier of the maturity date or January 1, 2025, rather than being paid semi-annually. The note matures on April 8, 2025. The noteholders also received warrants to purchase 20,000 shares of common stock, exercisable at $2.35 per share over a ten-year term. The warrants were exercised on April 15, 2024, and the proceeds were used to partially repay the note. |  |  | 33,000 |  |  |  | 80,000 |
On April 8, 2022, the Company received $500,000 pursuant to a note and warrant purchase agreement from an accredited investor, as lender. The unsecured note bears interest at 6% per annum, compounded semi-annually, and was payable in cash semi-annually on June 30 th and December 31 st. On August 23, 2022, the note was amended to update the terms of the interest payment to be payable at the earlier of the maturity date or January 1, 2025, rather than being paid semi-annually. The note matures on April 8, 2025. The noteholders also received warrants to purchase 125,000 shares of common stock, exercisable at $2.35 per share over a ten-year term. The warrants were exercised on April 15, 2024, and the proceeds were used to partially repay the note. |  |  | 206,250 |  |  |  | 500,000 |
On June 16, 2020, the Company entered into a loan authorization and loan agreement with the United States Small Business Administration (the “SBA”), as lender, pursuant to the SBA’s Economic Injury Disaster Loan (“EIDL”) assistance program in light of the impact of the COVID-19 pandemic on the Company’s business (the “EIDL Loan Agreement”) encompassing a $150,000 Promissory Note issued to the SBA (the “EIDL Note”)(together with the EIDL Loan Agreement, the “EIDL Loan”), bearing interest at 3.75% per annum. In connection with entering into the EIDL Loan, the Company also executed a security agreement, dated June 16, 2020, between the SBA and the Company (the “EIDL Security Agreement”) pursuant to which the EIDL Loan is secured by a security interest on all of the Company’s assets. Under the EIDL Note, the Company is required to pay principal and interest payments of $731 every month beginning June 16, 2022, as extended. All remaining principal and accrued interest is due and payable on June 16, 2050. The EIDL Note may be repaid at any time without penalty. |  |  | 150,000 |  |  |  | 150,000 |
Total notes payable |  |  | 389,250 |  |  |  | 1,130,000 |
Less unamortized debt discounts: |  |  | 13,470 |  |  |  | 222,024 |
Notes payable |  |  | 375,780 |  |  |  | 907,976 |
Less current maturities |  |  | 225,780 |  |  |  | 313,938 |
Notes payable, less current maturities |  | $ | 150,000 |  |  | $ | 594,038 |
Schedule of Interest Expense Related to Notes Payable, Related Parties, and Other Notes Payable | The Company recognized interest expense related to notes payable, related parties, and other notes payable for the three and twelve months ended December 31, 2024 and 2023, as follows:
|  | For the Year Ended |
|  | December 31, |
|  | 2024 |  |  | 2023 |
Interest on notes payable, related parties |  | $ | 338,651 |  |  | $ | 598,340 |
Amortization of debt discounts on notes payable, related parties |  |  | 879,710 |  |  |  | 1,009,396 |
Interest on notes payable |  |  | 30,415 |  |  |  | 65,848 |
Amortization of debt discounts on notes payable |  |  | 208,554 |  |  |  | 164,590 |
Interest - other |  |  | 7,310 |  |  |  | 1,575 |
Total interest expense |  | $ | 1,464,640 |  |  | $ | 1,839,749 |

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