v3.25.1
Insurance Premium Financing
12 Months Ended
Dec. 31, 2024
Insurance [Abstract]  
Insurance Premium Financing

 

12.Insurance Premium Financing

 

Effective November 15, 2024, the Company entered into a one year financing agreement with IPFS Corporation to fund a portion of its insurance premiums in the amount of $191,000. Repayments are made quarterly on January 15, 2025, April 15, 2025, and by July 15, 2025, the entirety of the financing is paid off in full. The interest rate is 8.99% and there are no covenants associated with this agreement.