The following table summarizes the Company’s long-term debt for the periods presented:

Unsecured debt - Regulation D

Unsecured debt - Regulation A

Adamantium Securities

Total outstanding debt

Less: Unamortized debt discount and issuance costs

(b)

Less: Current portion of long-term debt

Total long-term debt, net of current portion

Represents the contractual interest rate as of March 31, 2025.

Amortized into interest expense using the effective interest method. Write-offs of debt issuance costs associated with the redemption of bonds issued under the Company’s unregistered debt offerings are classified as loss on debt extinguishment in the condensed consolidated statements of operations.

Interest Expense on Debt

The following table summarizes the total interest costs incurred on the Company’s debt:

Three Months Ended
March 31,

Amortization of debt discount and debt issuance costs

Capitalized interest

Total interest expense, net