XML 64 R53.htm IDEA: XBRL DOCUMENT v3.22.2.2
Debt - Component of interest expense (Details) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Debt Instrument        
Stated interest expense $ 768,500 $ 733,611 $ 2,299,538 $ 1,940,490
Unsecured note payable        
Debt Instrument        
Interest Expense, Other 671,563 671,564 2,014,687 1,716,216
Amortization of issue discount 53,016 43,772 155,787 135,750
Amortization of financing costs 43,921 18,275 129,064 88,524
Total Interest Expense 768,500 733,611 2,299,538 1,940,490
Weighted average debt outstanding 38,375,000 38,375,000 38,375,000 32,539,835
Cash paid for interest expense $ 671,563 $ 671,564 $ 2,014,687 $ 1,716,216
State interest rate 7.00% 7.00% 7.00% 7.00%
Effective interest rate 7.63% 7.63% 7.63% 7.63%
Term Loan        
Debt Instrument        
Interest Expense, Other $ 359,376 $ 23,438 $ 909,454 $ 23,438
Amortization of issue discount 41,925 14,205 117,506 14,205
Amortization of financing costs 18,215 18,995 53,910 35,926
Unused fee 0 44,792 20,927 87,500
Total Interest Expense 419,516 101,430 1,101,797 161,069
Weighted average debt outstanding 25,000,000 1,684,783 21,390,110 567,766
Cash paid for interest expense $ 359,376 $ 68,230 $ 930,381 $ 110,938
State interest rate 5.625% 5.625% 5.625% 5.625%
Effective interest rate 6.25% 6.25% 6.25% 6.25%