Note Payable (Tables)

9 Months Ended

Sep. 30, 2023

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, 2023			December 31, 2022
Principal balance outstanding	$	17,386,071		$	17,801,456
Less: Loan procurement costs, net		(352,640	)		(380,602	)
Total note payable, net	$	17,033,431		$	17,420,854

Future Principal Payment Requirements

As of September 30, 2023, the note payable was secured by certain of the Company’s stores with an aggregate net book value of approximately $24.1 million. The following table represents the future principal payment requirements on the note payable as of September 30, 2023:

2023 (3 months)	$	141,878
2024		582,591
2025		607,488
2026		633,449
2027		660,519
2028 and thereafter		14,760,146
Total principal payments	$	17,386,071