Note Payable (Tables)

3 Months Ended

Mar. 31, 2022

Notes Payable [Abstract]

Carrying Value of Note Payable

The carrying value of the Company’s note payable is summarized as follows:

Note Payable	March 31, 2022			December 31, 2021
Principal balance outstanding	$	18,204,007		$	18,335,407
Less: Loan procurement costs, net		(409,216	)		(418,894	)
Total note payable, net	$	17,794,791		$	17,916,513

Future Principal Payment Requirements

The following table represents the future principal payment requirements on the note payable as of March 31, 2022:

2022 (9 months)	$	403,957
2023		558,714
2024		582,591
2025		607,488
2026		633,449
2027 and thereafter		15,417,808
Total principal payments	$	18,204,007