Quarterly report [Sections 13 or 15(d)]

Short-Term Notes Payable

v3.26.1
Short-Term Notes Payable
6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Short-Term Notes Payable

Note 5. Short-Term Notes Payable

 

Short-term notes payable consisted of the following:

 

    June 30, 2026     December 31, 2025  
Insurance premium financing of $506,190, due in monthly installments of $58,314, which includes principal and annual interest at 8.75% through April 2026   $ -     $ 227,348  
Total short-term notes payable   $ -     $ 227,348  

 

Subsequent to June 30, 2026, the Company renewed its annual commercial insurance program and entered into a premium financing agreement in the ordinary course of business. Under the agreement, approximately $504,664 of insurance premiums were financed and are payable in monthly installments through April 2027.