| Schedule of Interest Expense Incurred During Period |
The following table reflects a summary of interest expense incurred during the three and six months ended June 30, 2026 and 2025.
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Three months ended June 30, 2026 |
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Three months ended June 30, 2025 |
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Notes Payable |
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Revolving Loan |
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Total Borrowings |
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Notes Payable |
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Revolving Loan |
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Total Borrowings |
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Interest expense |
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$ |
1,121,918 |
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$ |
1,151,634 |
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$ |
2,273,552 |
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$ |
1,121,918 |
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$ |
802,208 |
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$ |
1,924,126 |
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Unused fee expense |
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- |
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26,861 |
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26,861 |
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- |
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42,774 |
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42,774 |
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Amortization of debt issuance costs |
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59,302 |
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24,662 |
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83,964 |
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59,302 |
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50,846 |
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110,148 |
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Total interest expense |
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$ |
1,181,220 |
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$ |
1,203,157 |
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$ |
2,384,377 |
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$ |
1,181,220 |
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$ |
895,828 |
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$ |
2,077,048 |
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For the six months ended June 30, 2026 |
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For the six months ended June 30, 2025 |
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Notes Payable |
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Revolving Loan |
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Total Borrowings |
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Notes Payable |
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Revolving Loan |
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Total Borrowings |
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Interest expense |
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$ |
2,231,507 |
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$ |
1,973,065 |
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$ |
4,204,572 |
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$ |
2,243,836 |
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$ |
1,592,620 |
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$ |
3,836,456 |
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Unused fee expense |
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- |
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52,992 |
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52,992 |
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- |
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85,516 |
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85,516 |
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Amortization of debt issuance costs |
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118,092 |
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49,323 |
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167,415 |
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118,766 |
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101,692 |
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220,458 |
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Total interest expense |
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$ |
2,349,599 |
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$ |
2,075,380 |
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$ |
4,424,979 |
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$ |
2,362,602 |
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$ |
1,779,828 |
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$ |
4,142,430 |
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