NOTE 14: COMMITMENTS AND CONTINGENCIES |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Notes | |
| NOTE 14: COMMITMENTS AND CONTINGENCIES | NOTE 14: COMMITMENTS AND CONTINGENCIES
Legal Proceedings
From time to time, the Company may become involved in legal proceedings arising in the ordinary course of business. The Company is not presently a party to any legal proceedings that it currently believes, if determined adversely to the Company, would individually or taken together have a material adverse effect on the Company’s business, operating results, financial condition or cash flows.
Guarantee of Ranco Notes
The Company has guaranteed the Ranco Notes (aggregate outstanding balance of $4,044,083 at December 31, 2025), which are classified within current liabilities of discontinued operations (see Note 12). Ranco LLC is the primary obligor on these notes; however, the Company may be required to satisfy these obligations in the event Ranco is unable to do so. As of December 31, 2025, no separate guarantee liability has been recognized under ASC 460, as the Company expects the obligations to be settled through the wind-down of Ranco’s remaining assets and negotiated settlements with the lenders. The Company is also pursuing discounted settlement of the discontinued obligations. |