NOTE PAYABLE |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Debt Disclosure [Abstract] | |
| NOTE PAYABLE | 5. NOTE PAYABLE
On May 20, 2025, the Company renewed its Directors and Officers Liability Insurance agreement for $92,596.88. Under the terms of the agreement, the Company made a down payment of $19,000, with the remaining balance financed over the remaining term at an annual percentage rate of 7.25%. Beginning June 2025, the Company will make 10 monthly payments of $7,606, with the last payment expected to be made in March 2026. At December 31, 2025, the outstanding balance on the note payable was $22,546.
On May 20, 2024, the Company renewed its Directors and Officers Liability Insurance agreement for $102,915. Under the terms of the agreement, the Company made a down payment of $21,000, with the remaining balance financed over the remaining term at an annual percentage rate of 7.99%. Beginning June 2024, the Company will make 10 monthly payments of $8,494, with the last payment expected to be made in March 2025. At December 31, 2024, the outstanding balance on the note payable was $25,148.
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