v3.26.1
Debt (Tables)
 3 Months Ended
Mar. 31, 2026
Debt [Abstract]  
Schedule of Discounts Recorded at Inception of Avenue Capital Loan Agreement

As of the closing date, we recorded the following discounts:

 

    Amount  
Equity grant of 342,857 shares of common stock – pro-rated for Tranche 1   $ 490,451  
Commitment fee @ 1.00% of Tranche 1     70,000  
Debt issuance costs – pro-rated for Tranche 1     66,412  
Fair value of Conversion Option     436,622  
Present value of Final Payment Fee     174,571  
Total discounts recorded at inception of Avenue Capital Loan Agreement   $ 1,238,056  
Schedule of Long-Term Debt

As of March 31, 2026, the long-term debt, without giving consideration to the extendable interest-only period consists of the following:

 

    Amount  
Gross Principal Amount   $ 7,000,000  
Add: gross Final Payment Fee     262,500  
Less: unamortized debt discount     (1,238,056 )
Less: present value discount on Final Payment Fee     (87,930 )
Long-term debt   $ 5,936,514  
Schedule of Principal Payments of Long-Term Debt

As of March 31, 2026, without giving consideration to the extendable interest-only period, principal payments of long-term debt are as follows:

 

    Amount  
2026   $ —  
2027     1,296,296  
2028     3,111,111  
2029     2,855,093  
Total   $ 7,262,500