v3.25.2
Debt (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Debt [Line Items]    
Schedule of Notes Payable

Notes payable as of March 31, 2025, and December 31, 2024 consisted of the following:

 

   March 31,   December 31, 
   2025   2024 
FNBD Notes Payable  $8,426,558   $8,621,519 
FSB Notes Payable   3,097,263    3,361,618 
Total notes payable   11,523,821    11,983,137 
Unamortized debt issuance costs   (82,270)   (81,909)
Notes payable, net of issuance cost   11,441,551    11,901,228 
Less current portion   (3,157,641)   (3,410,465)
Long-term portion  $8,283,910   $8,490,763 

Notes payable as of December 31, 2024 and 2023 consisted of the following:

 

   December 31,   December 31, 
   2024   2023 
FNBD Notes Payable  $8,621,519   $9,309,286 
FSB Notes Payable   3,361,618    5,767,302 
Total notes payable   11,983,137    15,076,588 
Unamortized debt issuance costs   (81,909)   (124,170)
Notes payable, net of issuance cost   11,901,228    14,952,418 
Less current portion   (3,410,465)   (1,469,043)
Long-term portion  $8,490,763   $13,483,375 
Schedule of Notes Payable Repayment Requirements

Notes payable repayment requirements as of March 31, 2025, in the succeeding years are summarized as follows:

 

Remainder of 2025  $2,957,649 
2026   1,203,521 
2027   872,072 
2028   909,759 
2029   950,587 
Thereafter   4,630,233 
Total  $11,523,821 

Notes payable repayment requirements as of December 31, 2024, in the succeeding years are summarized as follows:

 

2025  $3,416,965 
2026   1,203,521 
2027   872,072 
2028   909,759 
2029   950,587 
Thereafter   4,630,233 
Total  $11,983,137 
Schedule of Bridge Note  

A roll forward of the bridge note for the year ended December 31, 2023, is below:

 

Bridge notes, December 31, 2021   1,031,917 
Issued for cash   2,600,000 
Amortization of original issue discount   386,245 
Warrant discount   (429,284)
Amortization of warrant discount   303,309 
Debt issuance costs   (164,000)
Amortization of debt issuance costs   170,969 
Bridge notes, December 31, 2022   3,899,156 
Amortization of original issue discount   116,656 
Amortization of warrant discount   125,975 
Amortization of debt issuance costs   62,758 
Extinguishment of bridge notes in exchange for Series A preferred stock upon IPO on August 31, 2023   (4,204,545)
Bridge notes, December 31, 2023  $
-
 
FNBD [Member]    
Debt [Line Items]    
Schedule of Notes Payable to FSB

Notes payable to FNBD as of March 31, 2025 and December 31, 2024 consisted of the following:

 

Original                March 31,   December 31,   Issuance 
Principal   Acquisition  Entered  Maturity  Interest   2025   2024   Cost 
$237,272   CAH  12/27/2021  12/27/2041   3.98%  $217,681   $219,975   $6,108 
 231,987   CAH  12/27/2021  12/27/2031   3.98%   181,611    187,461    6,108 
 216,750   P&F  12/27/2021  12/27/2041   3.98%   198,853    200,949    5,370 
 318,750   P&F  12/27/2021  12/27/2031   3.98%   249,534    257,571    5,370 
 817,135   Pasco  1/14/2022  1/14/2032   3.98%   646,514    667,050    3,085 
 478,098   Lytle  3/15/2022  3/15/2032   3.98%   386,336    398,275    1,898 
 663,000   Lytle  3/15/2022  3/15/2042   3.98%   614,669    621,020    11,875 
 425,000   Kern  3/22/2022  3/22/2042   3.98%   394,019    398,089    7,855 
 1,275,000   Kern  3/22/2022  3/22/2032   3.98%   1,030,288    1,062,126    4,688 
 246,500   Bartow  5/18/2022  5/18/2042   3.98%   230,082    232,428    5,072 
 722,500   Bartow  5/18/2022  5/18/2032   3.98%   595,814    613,737    2,754 
 382,500   Dietz  6/15/2022  6/15/2032   3.98%   318,570    328,026    1,564 
 445,981   Aberdeen  7/19/2022  7/29/2032   3.98%   375,129    386,120    1,786 
 1,020,000   All Breed  8/12/2022  8/12/2042   3.98%   961,563    971,173    8,702 
 519,527   All Breed  8/12/2022  8/12/2032   3.98%   441,224    453,984    3,159 
 225,923   All Breed  8/12/2022  8/12/2032   5.25%   193,580    198,905    3,159 
 637,500   Williamsburg  12/8/2022  12/8/2032   5.25%   566,066    580,834    2,556 
 850,000   Valley Vet  11/8/2023  11/8/2033   5.25%   825,025    843,796    3,315 
$9,713,423                 $8,426,558   $8,621,519   $84,424 

Notes payable to FNBD as of December 31, 2024 and 2023 consisted of the following:

 

Original                December 31,   December 31,   Issuance 
Principal   Acquisition  Entered  Maturity  Interest   2024   2023   Cost 
$237,272   CAH  12/27/2021  12/27/2041   3.98%  $219,975   $228,785   $6,108 
 231,987   CAH  12/27/2021  12/27/2031   3.98%   187,461    210,161    6,108 
 216,750   P&F  12/27/2021  12/27/2041   3.98%   200,949    208,997    5,370 
 318,750   P&F  12/27/2021  12/27/2031   3.98%   257,571    288,761    5,370 
 817,135   Pasco  1/14/2022  1/14/2032   3.98%   667,050    746,733    3,085 
 478,098   Lytle  3/15/2022  3/15/2032   3.98%   398,275    444,593    1,898 
 663,000   Lytle  3/15/2022  3/15/2042   3.98%   621,020    645,392    11,875 
 425,000   Kern  3/22/2022  3/22/2042   3.98%   398,089    413,713    7,855 
 1,275,000   Kern  3/22/2022  3/22/2032   3.98%   1,062,126    1,185,648    4,688 
 246,500   Bartow  5/18/2022  5/18/2042   3.98%   232,428    241,429    5,072 
 722,500   Bartow  5/18/2022  5/18/2032   3.98%   613,737    683,262    2,754 
 382,500   Dietz  6/15/2022  6/15/2032   3.98%   328,026    364,708    1,564 
 445,981   Aberdeen  7/19/2022  7/29/2032   3.98%   386,120    428,747    1,786 
 1,020,000   All Breed  8/12/2022  8/12/2042   3.98%   971,173    1,008,039    8,702 
 519,527   All Breed  8/12/2022  8/12/2032   3.98%   453,984    503,471    3,159 
 225,923   All Breed  8/12/2022  8/12/2032   5.25%   198,905    219,347    3,159 
 637,500   Williamsburg  12/8/2022  12/8/2032   5.25%   580,834    637,500    2,556 
 850,000   Valley Vet  11/8/2023  11/8/2033   5.25%   843,796    850,000    3,315 
$9,713,423                 $8,621,519   $9,309,286   $84,424 
FSB [Member]    
Debt [Line Items]    
Schedule of Notes Payable to FSB

Notes payable to FSB as of March 31, 2025 and December 31, 2024 consisted of the following:

 

Original                March 31,   December 31,   Issuance 
Principal   Acquisition  Entered  Maturity  Interest   2025   2024   Cost 
$1,105,000   KVC  1/25/2021  2/25/2041   4.35%  $
-
   $
-
   $13,264 
 1,278,400   KVC  1/25/2021  1/25/2031   4.35%   
-
    
-
    10,085 
 469,914   KVC  1/25/2021  2/25/2023   5.05%   
-
    
-
    753 
 2,086,921   Pony Express  10/31/2022  10/31/2025   5.97%   1,690,053    1,733,807    25,575 
 400,000   Pony Express  10/31/2022  10/31/2042   5.97%   372,963    375,943    3,277 
 700,000   Pony Express  10/31/2022  8/16/2023   7.17%   
-
    
-
    
-
 
 568,000   Old 41  12/16/2022  12/16/2025   6.50%   457,089    470,227    4,531 
 640,000   Old 41  12/16/2022  12/16/2025   6.50%   202,158    406,641    5,077 
 375,000   Valley Vet  11/8/2023  1/29/2026   8.50%   375,000    375,000    6,877 
$7,623,235                 $3,097,263   $3,361,618   $69,439 

Notes payable to FSB as of December 31, 2024 and 2023 consisted of the following:

 

Original                December 31,   December 31,   Issuance 
Principal   Acquisition  Entered  Maturity  Interest   2024   2023   Cost 
$1,105,000   KVC  1/25/2021  2/25/2041   4.35%  $
-
   $997,010   $13,264 
 1,278,400   KVC  1/25/2021  1/25/2031   4.35%   
-
    960,849    10,085 
 469,914   KVC  1/25/2021  2/25/2023   5.05%   
-
    
-
    753 
 2,086,921   Pony Express  10/31/2022  10/31/2025   5.97%   1,733,807    1,902,452    25,575 
 400,000   Pony Express  10/31/2022  10/31/2042   5.97%   375,943    387,433    3,277 
 700,000   Pony Express  10/31/2022  8/16/2023   7.17%   
-
    
-
    
-
 
 568,000   Old 41  12/16/2022  12/16/2025   6.50%   470,227    520,697    4,531 
 640,000   Old 41  12/16/2022  12/16/2025   6.50%   406,641    623,861    5,077 
 375,000   Valley Vet  11/8/2023  11/8/2024   8.50%   375,000    375,000    6,877 
$7,623,235                 $3,361,618   $5,767,302   $69,439