10. NOTE PAYABLE
Note
payable consists of the following:
SCHEDULE OF
NOTES PAYABLE
| | |
March
31, 2025 | | |
December
31, 2024 | |
| Vehicle
note payable for $40,248 with monthly installment payments of $799, including interest at 6.99% per annum. The loan is collateralized
by the respective vehicle and is due in February 2027. | |
$ | 17,007 | | |
$ | 19,082 | |
| | |
| | | |
| | |
| Less
current portion | |
| (8,674 | ) | |
| (8,524 | ) |
| | |
| | | |
| | |
| LONG-TERM
PORTION | |
$ | 8,333 | | |
$ | 10,558 | |
The
balance of the above debt matures as follows:
SCHEDULE
OF MATURITIES OF LONG-TERM DEBT
Twelve
Months Ending
March 31, | |
Amount | |
| 2026 | |
$ | 8,674 | |
| 2027 | |
| 8,333 | |
| | |
| | |
| TOTAL | |
$ | 17,007 | |
Interest
expense related to this note payable for the three months ended March 31, 2025 and 2024, was $321 and $461, respectively.
|