v3.25.3
Note Payable
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Note Payable

Note 5 – Note Payable

 

Notes payable at September 30, 2025 and December 31, 2024 were comprised of the following:

 

   Interest rate  Due date 

September 30,

2025

   December 31,
2024		 
40% OID promissory note  OID only  November - December, 2025  $4,288,000   $- 
10 % OID promissory note  OID only  November, 2025   154,000    - 
Total notes payable         4,442,000    - 
Less: unamortized debt discounts         (614,000)   - 
Notes payable        $3,828,000   $- 

 

During the nine months ended September 30, 2025, the Company issued promissory notes (the “Notes”) to certain lenders (the “Lenders”) in the aggregate principal amount of $4,442,000 (the “Principal”), for an aggregate purchase price from the Lenders of $3,203,000.

 

Notes of $0.5 million have not been paid as of the maturity date of November 14, 2025.