SUBSEQUENT EVENTS |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | NOTE 12 – SUBSEQUENT EVENTS
Management has evaluated subsequent events for disclosure and/or recognition in the financial statements through the date that the financial statements were issued.
Since July 1, 2026, the Company issued and sold an additional shares of its Preferred Stock under the 2025 Preferred ATM Program at a weighted average price of $ per share, net proceeds of $651,000, after offering expenses. As of August 5, 2026, $89.2 million of Preferred Stock remained eligible for sale under the 2025 Preferred ATM Program.
On July 27, 2026, the Company drew down $10 million on its unsecured line of credit.
Subsequent to June 30, 2026, the Company paid down its interest-bearing portion of its June 30, 2026 outstanding balance of $4.6 million on its floorplan inventory financing revolving lines of credit, which had a weighted average interest rate of 7.23%.
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