Note 4 - Loans |
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||
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| Debt Disclosure [Text Block] |
Note 4. Loans
Equipment Loans
On October 1, 2023, the Company entered into a debt arrangement to finance $811,819 for the purchase of an Output Solutions folder and inserter. The loan is for a period of 66 months with a maturity date of April 5, 2029 and annual interest of 6.75%. Monthly principal and interest payments are required in the amount of $16,017. Total interest and principal payments on this folder and inserter equipment loan were $50,188 and $47,953 for the three months ended June 30, 2026 and 2025, respectively. Total interest and principal payments on this folder and inserter equipment loan were $98,141 and $95,906 for the six months ended June 30, 2026 and 2025, respectively.
On September 19, 2025, the Company entered into a debt arrangement to finance $1,017,954 for the purchase of an Output Solutions printer. The loan is for a period of 66 months with a maturity date of March 19, 2031 and annual interest of 6.75%. Monthly principal and interest payments are required in the amount of $20,088. Through the end of 2025, only $791,742 in proceeds were drawn from the loan and reflected on the Company's consolidated balance sheets at December 31, 2025, with the remaining commitment of $226,212 still available as of June 30, 2026. Total payments on the printer loan during the three months ended June 30, 2026 were $44,636. Total payments on the printer loan during the six months ended June 30, 2026 were $57,997.
Future principal payments on current debt arrangements are as follows at June 30, 2026:
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