Note Payable (Tables)

6 Months Ended

Jun. 30, 2022

Notes Payable [Abstract]

Carrying Value of Note Payable

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

Note Payable	June 30, 2022			December 31, 2021
Principal balance outstanding	$	18,071,225		$	18,335,407
Less: Loan procurement costs, net		(399,607	)		(418,894	)
Total note payable, net	$	17,671,618		$	17,916,513

Future Principal Payment Requirements

As of June 30, 2022, the note payable was secured by certain of the Company’s stores with an aggregate net book value of approximately $24.9 million. The following table represents the future principal payment requirements on the note payable as of June 30, 2022:

2022 (6 months)	$	270,711
2023		558,714
2024		582,591
2025		607,488
2026		633,449
2027 and thereafter		15,418,272
Total principal payments	$	18,071,225