Financing Arrangements (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Financing Arrangements |
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| Schedule of borrowings |
| | June 30, 2026 | | | December 31, 2025 | | | | | | | | | Secured convertible notes payable at 4.0% per annum, due various dates through April 2031 | | $ | 16,050,000 | | | $ | 15,150,000 | | EB-5 loans - see details below | | | 8,500,000 | | | | 10,500,000 | | Total | | | 24,550,000 | | | | 25,650,000 | | Less: debt discount and debt issuance costs | | | (170,783 | ) | | | (160,118 | ) | Current portion | | | (20,650,000 | ) | | | (20,150,000 | ) | Noncurrent portion | | $ | 3,729,217 | | | $ | 5,339,882 | |
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| Schedule of related party debt |
| | June 30, 2026 | | | December 31, 2025 | | | | | | | | | Loan from Clean Energy Funding, LP | | $ | 2,000,000 | | | $ | 3,500,000 | | Loan from Clean Energy Funding II, LP | | | 6,500,000 | | | | 7,000,000 | | Total | | | 8,500,000 | | | | 10,500,000 | | Less: current portion | | | (6,500,000 | ) | | | (5,500,000 | ) | Noncurrent portion | | $ | 2,000,000 | | | $ | 5,000,000 | |
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| Schedule of principal maturities for the financing arrangements |
For the year ending December 31, | | EB-5 Loans - Related Party | | | Convertible Notes * | | | Total | | 2026 (remainder of) | | $ | 3,500,000 | | | $ | 13,750,000 | | | $ | 17,250,000 | | 2027 | | | 3,000,000 | | | | 500,000 | | | | 3,500,000 | | 2028 | | | 2,000,000 | | | | 500,000 | | | | 2,500,000 | | 2029 | | | - | | | | 500,000 | | | | 500,000 | | 2030 | | | - | | | | 500,000 | | | | 500,000 | | 2031 | | | - | | | | 300,000 | | | | 300,000 | | Total | | $ | 8,500,000 | | | $ | 16,050,000 | | | $ | 24,550,000 | |
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