Debt (Tables)

9 Months Ended

Sep. 30, 2024

Debt as of September 30, 2024 and December 31, 2023 consists of the following:


	September 30, 2024		December 31, 2023

13.75% Senior Notes due 2026, net	$	11,339,350	$	—
12.0% Senior Notes due 2024, net	—		18,426,247
Equipment financing	5,958,237		6,817,283
Balance at end of period	$	17,297,587	$	25,243,530

The balance of the 2024 Notes as of September 30, 2024 and December 31, 2023 is as follows:


	September 30, 2024		December 31, 2023

13.75% Senior Notes due 2026	$	11,950,000	$	—
Warrants	(411,999)		—
Issuance costs	(198,651)		—
2024 Notes, net	$	11,339,350	$	—

The balance of the 2022 Notes as of September 30, 2024 and December 31, 2023 is as follows:


	September 30, 2024		December 31, 2023

12.0% Senior Notes due 2024	$	—	$	19,950,000
Warrants	—		(653,123)
Issuance costs	—		(870,630)
2022 Notes, net	$	—	$	18,426,247

Schedule of Percentages of the Principal Amount

The 2022 Notes were redeemable, at the Company’s option, in whole or in part, at any time or in part from time to time, on and after December 30, 2022, upon not less than fifteen (15) and not more than sixty (60) days’ notice, at the following redemption prices (“Redemption Prices” ) (expressed as percentages of the principal amount thereof) if redeemed during the respective period set forth below, plus, in each case, accrued and unpaid interest, if any, to the date of redemption (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date):


Period:	Percentage

December 30, 2022 to December 29, 2023	102.00	%
December 30, 2023 to September 29, 2024	101.00	%
September 30, 2024 to December 29, 2024	100.00	%

Schedule of Contractual Payment Obligations

Future contractual payment obligations under the Financing as of September 30, 2024 are as follows:


For the Years Ending December 31,	Total
Remainder of 2024	$	294,816
2025	1,223,293
2026	1,296,901
2027	1,119,021
	3,934,031
2027 purchase price	2,024,206
Total	$	5,958,237