The
Company had the following short-term notes payable as of September 30, 2024 and December 31, 2023:
Summary
of Short-Term Notes Payable
September 30,
2024
December 31,
2023
Insurance premium financing of $636,972
and $611,109 due in monthly installments of $67,277
and $54,366 including principal and interest at 9.55%
through May
24, 2025 and 2024 respectively.
Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.