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Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Summary of Valuation of Financial Instruments at Fair Value on a Nonrecurring Basis

The following schedule summarizes the valuation of financial instruments at fair value on a nonrecurring basis in the balances sheet as of December 31, 2024 and December 31, 2023:

 

 

 

December 31, 2024

 

 

December 31, 2023

 

 

 

Carrying
Value

 

 

Estimated
Fair Value

 

 

Carrying
Value

 

 

Estimated
Fair Value

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Notes payable, related parties, net of debt discounts

 

$

2,195,500

 

 

$

2,469,531

 

 

$

6,714,288

 

 

$

7,008,684

 

Notes payable, net of debt discounts

 

 

375,780

 

 

 

237,841

 

 

 

907,976

 

 

 

953,847

 

Total liabilities

 

$

2,571,280

 

 

$

2,707,372

 

 

$

7,622,264

 

 

$

7,962,531