v3.26.1
Note 9 - Notes Payable - Notes Payable to Non-related Parties (Details) - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
May 09, 2024
Long-term debt $ 10,984,353 $ 9,859,406  
Less current portion (9,750,000) (8,681,684)  
Long-term debt, noncurrent 1,234,353 1,177,722  
Year one 9,750,000 8,681,684  
Year two 0 0  
Year three 0 0  
Year four 1,234,353 0  
Year five   1,177,722  
Promissory note dated November 4, 2015 [Member]      
Notes Payable $ 0 884,000  
Interest rate [1] 5.00%    
Effective interest rate 5.00%    
Maturity date Dec. 01, 2019    
Promissory note $ 0 884,000  
Promissory Note to Former VidaCann Shareholders [Member]      
Notes Payable $ 0 4,869,695  
Interest rate [2] 5.00%    
Effective interest rate 15.00%   15.00%
Maturity date Apr. 01, 2025    
Promissory note $ 0 4,869,695  
Promissory Note to La Fayette State Bank [Member]      
Notes Payable $ 0 2,927,989  
Interest rate [3] 10.00%    
Effective interest rate 15.00%   15.00%
Maturity date Feb. 20, 2025    
Promissory note $ 0 2,927,989  
Promissory Note to VidaCann Former Managers [Member]      
Notes Payable $ 1,234,353 1,177,722  
Interest rate [4] 7.50%    
Effective interest rate 15.00%   15.00%
Maturity date May 06, 2029    
Promissory note $ 1,234,353 1,177,722  
Bank of Nevada Revolving Line of Credit [Member]      
Interest rate [5] 5.65%    
Effective interest rate 5.65%    
Maturity date Jun. 30, 2026    
Long-Term Line of Credit $ 9,750,000 $ 0  
[1] The Promisory note dated November 4, 2015 had a face value of $884,000. The Company settled with the note holder for a parcel of land secured by the note in exchange for cancellation of the note in full and relief of all accrued interest. Total interest expense including accrued interest for the year ended December 31, 2025 equaled $0 (2024 - $44,200).
[2] The Promisory note to former VidaCann Shareholders had a face value of $5,000,000. The Company determined a fair value of $4,632,129 at the May 9, 2024 acquisition date using a 15% estimated borrowing rate. Total interest expense including accrued interest and amortization of the note discount for the year ended December 31, 2025 equaled $213,182 (2024 - $378,662). This note was paid in full on April 1, 2025.
[3] The Promisory note to Lafayette State Bank had a face value of $2,947,632. The Company determined a fair value of $2,862,159 at the May 9, 2024 acquisition date using a 15% estimated borrowing rate. Total interest expense including paid and accrued interest and amortization of the note discount for the year ended December 31, 2025 equaled $84,327 (2024 - $260,658). This note was paid in full on February 11, 2025.
[4] The Promisory note to VidaCann former managers had a face value of $1,500,000. The Company determined a fair value of $1,148,423 at the May 9, 2024 acquisition date using a 15% estimated borrowing rate. Total interest expense including paid interest and amortization of the note discount for the year ended December 31, 2025 equaled $169,119 (2024 - $98,339).
[5] The Company entered into a cash secured line of credit up to $9,750,000, effective June 13, 2024, with no other collateral securing the credit line (the "revolving line of credit"). The revolving line of credit contains no financial, or other incurrence-based covenants or no material maintenance covenants. The revolving line of credit balance at December 31, 2025 equaled $9,750,000 (2024 - $0). Total interest expense for the year ended December 31, 2025 equaled $434,442 (2024 - $0).