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Notes Payable
 6 Months Ended
Jun. 30, 2022
Payables and Accruals [Abstract]  
Notes Payable Notes Payable
    The notes payable balance consists of the following:
Total notes payable, net at January 1, 2022$2,154,098 
Accretion of discount2,148 
Total notes payable, net at March 31, 2022$2,156,246 
Accretion of discount$3,979 
Total notes payable, net at June 30, 2022$2,160,225 

Senior Secured Debt

The senior secured debt bears interest at prime plus 0.75% and had an original maturity date of June 30, 2021. In connection with the June Offering, we entered into the Loan Extension Letter Agreement on June 2, 2021 which provided for an extension of the maturity date on Hale Capital’s portion of the outstanding indebtedness owed under the Amended and Restated Loan Agreement to June 30, 2023. The amount extended constituted approximately $2.2 million of the $3.5 million principal amount outstanding as of June 2, 2021. The remaining $1.3 million of the outstanding principal, which was owed to other lenders, was repaid in full on June 30, 2021. On July 19, 2022, we entered into the "Second Loan Extension Letter Agreement" that provided for a subsequent extension of the maturity date on the outstanding indebtedness owed under the Amended and Restated Loan Agreement from June 30, 2023 to December 31, 2023.

As of June 30, 2022, the Company was in compliance with the financial covenants contained in the Amended and Restated Loan Agreement.