v3.25.2
Note Payable
3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Note Payable

Note 5 – Note Payable

 

Notes payable at March 31, 2025 and December 31, 2024 were comprised of the following:

 

   Interest rate  Due date 

March 31,

2025

 
40% OID promissory note  OID only  November – December, 2025  $532,000 
10% OID promissory note  OID only  November, 2025   154,000 
Total notes payable         686,000 
Less: unamortized debt discounts         (154,000)
Notes payable        $532,000 

 

During the three months ended March 31, 2025, the Company issued promissory notes (the “Notes”) to certain lenders (the “Lenders”) in the aggregate principal amount for approximately $0.7 million (the “Principal”), for cash proceeds of approximately $0.5 million