v3.26.1
NOTES PAYABLE – RELATED PARTIES
 12 Months Ended
Dec. 31, 2025
Related Party [Member]  
Defined Benefit Plan Disclosure [Line Items]  
NOTES PAYABLE – RELATED PARTIES

NOTE 8: NOTES PAYABLE – RELATED PARTIES

 

The Company entered into notes payable – related parties as follows as of December 31, 2025 and 2024. The chart below does not include notes payable that were repaid or converted during 2024, or notes payable that were reclassified to liabilities of discontinued operations or disposed of. Refer to the Form 10-K for the year ended December 31, 2024 filed May 9, 2025 for a full description of those notes:

 

   December 31, 2025   December 31, 2024 
         
Note payable with a trust related to a director of the Company dated May 13, 2024 for a period of one year maturing May 13, 2025 at 6% interest. Note was repaid in April 2025.  $           -   $20,000 
           
Note payable with a trust related to a director of the Company dated June 27, 2024 for a period of one year maturing June 27, 2025 at 6% interest. Note was repaid in April 2025.   -    12,500 
           
Note payable with a trust related to a director of the Company dated January 21, 2025 for a one-year period maturing January 21, 2026 at 6% interest. Note was repaid in April 2025.   -    - 
           
Note payable with a partnership controlled by the family of one of the Company’s directors dated August 7, 2024 at 6% interest that matured February 7, 2025. Note was repaid in April 2025.   -    353,000 
           
Total   -    385,500 
Less: Current portion   -    (385,500)
Less: Discount   -    - 
Long-term debt  $-   $- 

 

Interest expense for the years ended December 31, 2025 and 2024 was $6,058 and $1,636, respectively.

 

The Company received $12,000 at 6% interest from a trust related to a director of the Company on January 21, 2025.

 

All of the notes listed above were repaid in April 2025.