v3.26.1
Note Payable and Revolving Line of Credit (Tables)
6 Months Ended
Jun. 30, 2026
Notes Payable [Abstract]  
Carrying Value of Note Payable

As of June 30, 2026 and December 31, 2025, the carrying value of the Company’s note payable is summarized as follows:

Note Payable

 

June 30, 2026

 

 

December 31, 2025

 

Principal balance outstanding

 

$

15,746,431

 

 

$

16,058,752

 

Less: Loan procurement costs, net

 

 

(256,034

)

 

 

(272,878

)

Total note payable, net

 

$

15,490,397

 

 

$

15,785,874

 

Future Principal Payment Requirements The following table represents the future principal payment requirements on the note payable as of June 30, 2026:

 

2026 (6 months)

 

$

320,038

 

2027

 

 

660,519

 

2028

 

 

688,746

 

2029

 

 

718,180

 

2030

 

 

748,871

 

2031 and thereafter

 

 

12,610,077

 

Total principal payments

 

$

15,746,431