v3.25.1
Note 8 - Debt Obligations (Tables)
3 Months Ended
Mar. 31, 2025
Notes Tables  
Schedule of Debt [Table Text Block]
  

March 31, 2025

  

December 31, 2024

 

GHF Secured Promissory Note - 12% interest, due April 15, 2026

 $4,290,000  $4,290,000 

Alvin Fund LLC 2022 Note - 16% interest, due April 15, 2026

  2,000,000   2,000,000 

Alvin Fund LLC 2023 Note - 12% interest, due April 15, 2026

  2,100,000   2,100,000 

2025 Kips Bay Unsecured Convertible Promissory Note - 6% interest, due April 10, 2026

  7,239,320    

AQMS Note Payable - 9.76% implied interest, due March 31, 2025

     100,000 

Total debt

  15,629,320   8,490,000 

Less: debt discounts and issuance costs

  (1,724,948)  (2,407)

Total debt, net of discounts

  13,904,372   8,487,593 

Less: current maturities

     (97,593)

Long-term debt, net of discounts and issuance costs

 $13,904,372  $8,390,000 
Schedule of Debt Conversions [Table Text Block]

Principal converted

 

$

3,398,978

Debt discount associated with principal converted

  

(1,153,374)

Accrued interest payable converted

  

60,404

Derivative liability converted

  

498,355

Total

  

2,804,363

Fair value of stock issued (1,490,624 shares)

  

4,001,243

Loss on conversion of debt

 

$

(1,196,880)