NOTE PAYABLE |
3 Months Ended |
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Mar. 31, 2026 | |
| 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. At March 31, 2026, the outstanding balance on the note payable was $0.
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- References No definition available.
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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