Debt (Tables)

6 Months Ended

Jun. 30, 2025

Debt [Abstract]

Schedule of Mandatory Scheduled Principal Payments on Unsecured Notes

As of June 30, 2025, the Company is in compliance with all financial covenants with respect to the Unsecured Notes.

Year	Notes Payable
2025	$	-
2026		-
2027		-
2028		50,000,000
Total principal	$	50,000,000
Deferred debt issuance costs included in notes payable		(784,985	)
Total notes payable, net	$	49,215,015

Schedule of Interest Expense Incurred During Period

The following table reflects a summary of interest expense incurred during the three and six months ended June 30, 2025 and 2024.

	Three months ended June 30, 2025						For the six months ended June 30, 2025
	Notes Payable		Revolving Loan		Total Borrowings		Notes Payable		Revolving Loan		Total Borrowings
Interest expense	$	1,121,918	$	802,208	$	1,924,126	$	2,243,836	$	1,592,620	$	3,836,456
Unused fee expense		-		42,774		42,774		-		85,516		85,516
Amortization of debt issuance costs		59,302		50,846		110,148		118,766		101,692		220,458
Total interest expense	$	1,181,220	$	895,828	$	2,077,048	$	2,362,602	$	1,779,828	$	4,142,430
	Three months ended June 30, 2024						For the six months ended June 30, 2024
	Notes Payable		Revolving Loan		Total Borrowings		Notes Payable		Revolving Loan		Total Borrowings
Interest expense	$	-	$	1,733,412	$	1,733,412	$	-	$	3,740,462	$	3,740,462
Unused fee expense		-		13,841		13,841		-		19,927		19,927
Amortization of debt issuance costs		-		91,679		91,679		-		182,593		182,593
Total interest expense	$	-	$	1,838,932	$	1,838,932	$	-	$	3,942,982	$	3,942,982