Note Payable (Tables)

9 Months Ended

Sep. 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	September 30, 2022			December 31, 2021
Principal balance outstanding	$	17,937,046		$	18,335,407
Less: Loan procurement costs, net		(390,068	)		(418,894	)
Total note payable, net	$	17,546,978		$	17,916,513

Future Principal Payment Requirements

As of September 30, 2022, the note payable was secured by certain of the Company’s stores with an aggregate net book value of approximately $24.8 million. The following table represents the future principal payment requirements on the note payable as of September 30, 2022:

2022 (3 months)	$	136,063
2023		558,714
2024		582,591
2025		607,488
2026		633,449
2027 and thereafter		15,418,741
Total principal payments	$	17,937,046