| Schedule of Notes Payable |
On March 31, 2025 and December 31, 2024, notes
payable consisted of the following:
| | |
March 31,
2025 | | |
December 31,
2024 | |
| Note payable - East West Bank | |
$ | 4,391,891 | | |
$ | 4,404,279 | |
| Notes payable - 23616 Land Contract | |
| 1,372,530 | | |
| 1,367,262 | |
| Note payable – 23634 Land Contract | |
| 397,993 | | |
| 398,726 | |
| Note payable - Surprise, AZ property | |
| 1,320,000 | | |
| 1,020,000 | |
| Total principal due on notes payable | |
| 7,482,414 | | |
| 7,190,267 | |
| Less: debt discount | |
| (172,175 | ) | |
| (178,593 | ) |
| Notes payable, net | |
$ | 7,310,239 | | |
$ | 7,011,674 | |
|
| Schedule of Future Principal Payments Under Notes Payable |
On March 31, 2025, future annual principal payments
under the above notes payable are as follows:
| Years ending March 31, | |
Amount | |
| 2026 | |
$ | 105,225 | |
| 2027 | |
| 472,719 | |
| 2028 | |
| 1,367,500 | |
| 2029 | |
| 68,798 | |
| 2030 | |
| 1,394,694 | |
| Thereafter | |
| 4,073,478 | |
| Total principal payments due on March 31, 2025 | |
$ | 7,482,414 | |
|