Finely chop the chili pepper. Measure out the dark chocolate and honey.
In a small saucepan, heat the water over medium heat. Add the honey, balsamic vinegar, and chopped chili.
Bring the mixture to a simmer, then reduce the heat to low and cook for 5 minutes to allow the flavors to meld.
Add the dark chocolate and stir until completely melted. Stir in the cinnamon and salt.
Continue to cook the sauce over low heat for 2-3 minutes, or until it thickens slightly and becomes smooth.
Let cool slightly before serving with meats, desserts, or storing in an airtight jar.
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