Quarterly report [Sections 13 or 15(d)]

Short-Term Notes Payable (Tables)

v3.25.1
Short-Term Notes Payable (Tables)
3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Summary of Short-Term Notes Payable

Short-term notes payable consisted of the following:

  

    March 31,     December 31,  
    2025     2024  
Insurance premium financing of $636,972 and $611,109 due in monthly installments of $67,277 and 54,366 which includes principal and annual interest at 9.55% through May 24, 2025 and May 24, 2024, respectively   $ 132,963     $ 328,528  
$3.0 million non-interest bearing promissory note due July 14, 2025     3,000,000       -  
Short-term notes payable     3,132,963       -  
Unamortized debt issuance costs and original issue discount     (578,578 )     -  
Short term notes payable net of discount   $ 2,554,385     $ 328,528