Debt (Tables)
|
9 Months Ended |
Sep. 30, 2025 |
|---|
| Debt Instrument [Line Items] |
|
| Summary of Convertible Notes |
The following table presents the 2024 CP BF Convertible Note as of September 30, 2025:
|
|
|
|
|
Face value of the CP BF convertible notes |
|
$ |
8,758,775 |
|
Debt premium, net |
|
|
8,375 |
|
Carrying value of the CP BF convertible notes |
|
|
8,767,150 |
|
Accrued interest |
|
|
1,320,508 |
|
Prepayments made |
|
|
(3,123,992 |
) |
Conversions |
|
|
(216,284 |
) |
Total CP BF convertible notes and accrued interest |
|
$ |
6,747,383 |
|
The following table presents the 2024 CP BF Convertible Note as of December 31, 2024:
|
|
|
|
|
Face value of the CP BF convertible notes |
|
$ |
8,758,775 |
|
Debt premium, net |
|
|
11,066 |
|
Carrying value of the CP BF convertible notes |
|
|
8,769,841 |
|
Accrued interest |
|
|
369,459 |
|
Prepayments made |
|
|
(283,315 |
) |
Conversions |
|
|
(216,284 |
) |
Total CP BF convertible notes and accrued interest |
|
$ |
8,639,701 |
|
|
| Agile Term Notes [Member] |
|
| Debt Instrument [Line Items] |
|
| Summary of Notes |
The following presents the Agile Notes as of September 30, 2025:
|
|
|
|
|
|
|
Fair Value |
|
Balance at December 31, 2024 |
|
|
3,143,000 |
|
Issuance of Agile term notes |
|
|
4,000,000 |
|
Loss on restructuring |
|
|
1,769,895 |
|
Repayments in cash |
|
|
(3,540,800 |
) |
Change in fair value |
|
|
165,905 |
|
Balance at March 31, 2025 |
|
|
5,538,000 |
|
Issuance of Agile term notes |
|
|
262,500 |
|
Loss on issuance |
|
|
110,500 |
|
Repayments in cash |
|
|
(1,929,885 |
) |
Change in fair value |
|
|
149,885 |
|
Balance at June 30, 2025 |
|
|
4,131,000 |
|
Repayments in cash |
|
|
(1,724,250 |
) |
Change in fair value |
|
|
75,250 |
|
Balance at September 30, 2025 |
|
$ |
2,482,000 |
|
|
|
|
|
Outstanding principal balance as of September 30, 2025 |
|
$ |
2,108,014 |
|
Accrued interest as of September 30, 2025 |
|
$ |
1,499,649 |
|
|
| 1800 Diagonal Convertible Notes [Member] |
|
| Debt Instrument [Line Items] |
|
| Summary of Notes |
The following table presents the 1800 Diagonal Notes as of September 30, 2025:
|
|
|
|
|
|
|
Fair Value |
|
Balance at December 31, 2024 |
|
$ |
432,000 |
|
Issuance of 1800 Diagonal convertible notes |
|
|
124,200 |
|
Loss on debt issuance |
|
|
21,800 |
|
Repayments in cash |
|
|
(145,286 |
) |
Change in fair value |
|
|
(21,714 |
) |
Balance at March 31, 2025 |
|
|
411,000 |
|
Issuance of 1800 Diagonal convertible notes |
|
|
393,300 |
|
Loss on debt issuance |
|
|
58,700 |
|
Repayments in cash |
|
|
(316,719 |
) |
Change in fair value |
|
|
(16,281 |
) |
Balance at June 30, 2025 |
|
|
530,000 |
|
Issuance of 1800 Diagonal convertible notes |
|
|
447,350 |
|
Loss on debt issuance |
|
|
65,650 |
|
Repayments in cash |
|
|
(65,589 |
) |
Change in fair value |
|
|
4,190 |
|
Conversions |
|
|
(156,600 |
) |
Balance at September 30, 2025 |
|
$ |
825,000 |
|
|
|
|
|
Outstanding principal balance as of September 30, 2025 |
|
$ |
732,684 |
|
Accrued interest as of September 30, 2025 |
|
$ |
71,505 |
|
|
| Private Placement Offering (3i, LP) [Member] |
|
| Debt Instrument [Line Items] |
|
| Summary of Notes |
The following table presents the Private Placement Convertible Notes as of September 30, 2025:
|
|
|
|
|
|
|
Fair Value |
|
Balance at December 31, 2024 |
|
$ |
— |
|
Balance at March 31, 2025 |
|
|
- |
|
Issuance of Private Placement Convertible Notes |
|
|
2,200,000 |
|
Loss on debt issuance |
|
|
476,000 |
|
Balance at June 30, 2025 |
|
|
2,676,000 |
|
Issuance of Private Placement Convertible Notes |
|
|
2,000,000 |
|
Loss on debt issuance |
|
|
1,083,000 |
|
Repayments in cash |
|
$ |
(1,291,516 |
) |
Change in fair value |
|
$ |
(514,338 |
) |
Conversions |
|
$ |
(1,649,146 |
) |
Balance at September 30, 2025 |
|
$ |
2,304,000 |
|
|
|
|
|
Outstanding principal balance as of September 30, 2025 |
|
$ |
2,750,853 |
|
Accrued interest as of September 30, 2025 |
|
$ |
1,193,231 |
|
|