LongTerm Debt and Other ShortTerm Borrowings (Tables)

3 Months Ended

Mar. 31, 2025

LongTerm Debt and Other ShortTerm Borrowings

Schedule Of Long term debt and Other Short-Term Borrowings

	March 31, 2025		December 31, 2024
Long-term debt:
Note payable to Discover, pursuant to a Secured Promissory Note dated December 24, 2021 and funded on January 3, 2022 in the original amount of $26,315,789 with interest and principal due at maturity on January 1, 2027. The note bears interest at a rate equal to the Wall Street Journal Prime Rate (3.25%) as of the effective date and is secured by lien on substantially all of the Company’s assets. The balance shown is net of unamortized debt discount of $5,695,041 and $6,488,422 at March 31, 2025 and December 31, 2024, respectively.	$	20,620,748	$	19,827,367
Note payable to Discover pursuant to a 10.0% Secured Promissory Note dated April 23, 2021 in the original amount of $2,500,000 with interest and principal due at maturity on January 1, 2027. Pursuant to an amendment dated December 24, 2021 the interest rate was adjusted to the Wall Street Journal Prime Rate (3.25%) as of the amendment date. The Note is secured by a lien on substantially all of the Company’s assets.		2,500,000		2,500,000
Note payable to Discover, pursuant to a 10.0% Secured Promissory Note dated December 22, 2020 in the original amount of $12,000,000 with interest and principal due at maturity on January 1, 2027. Pursuant to an amendment dated December 24, 2021 the interest rate was adjusted to the Wall Street Journal Prime Rate (3.25%) as of the amendment date. The Note is secured by a lien on substantially all of the Company’s assets.		12,000,000		12,000,000

Note payable to Discover, pursuant to a 10.0% Secured Promissory Note dated December 11, 2020 in the original amount of $6,000,000 with interest and principal due at maturity on January 1, 2027. Pursuant to an amendment dated December 24, 2021 the interest rate was adjusted to the Wall Street Journal Prime Rate (3.25%) as of the amendment date. The Note is secured by a lien on substantially all of the Company’s assets.		6,000,000			6,000,000
Loan of $150,000 dated July 1, 2020 from the U.S. Small Business Administration. The loan bears interest at 3.75% and matures on July 28, 2050. The loan is payable in monthly installments of $731 with the remaining principal and accrued interest due at maturity. Installment payments were originally due to start 12 months from the date of the note but the date was extended to January 2023. Accrued interest from the original installment due date to January 2023 was capitalized to the loan principal balance.		158,574			159,276
Total long-term debt		41,279,322			40,486,643
Less current portion		(2,848	)		(2,848	)
Total long-term debt, net of current portion and debt discount	$	41,276,474		$	40,483,795

Summary Of Principal maturities of long-term debt

Twelve-month period ended March 31,
	Principal		Unamortized Discount			Net
2026	$	2,848	$	-		$	2,848
2027		46,818,745		(5,695,041	)		41,123,704
2028		3,069		-			3,069
2029		3,186		-			3,186
2030		3,308		-			3,308
Thereafter		143,207		-			143,207
	$	46,974,363	$	(5,695,041	)	$	41,279,322