v3.25.2
Short-Term Debt
3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Short-Term Debt

Note 4. Short-Term Debt

 

The following table represents the details of the short-term debts at March 31, 2025 and December 31, 2024:

                
Issuance date  Maturity  Interest Rate  03.31.2025   12.31.2024 
October 2, 2019  October 1, 2020  1% per month  $10,000   $10,000 
January 15, 2020  January 15, 2021  1% per month   22,000    22,000 
April 16, 2020  April 15, 2021  1% per month   13,500    13,500 
July 2, 2020  July 1, 2021  1% per month   18,500    18,500 
October 23, 2020  October 22, 2021  1% per month   6,500    6,500 
January 5, 2021  January 15, 2022  1% per month   22,500    22,500 
March 10, 2021  March 10, 2022  1% per month   20,000    20,000 
July 13, 2021  July 13,2022  1% per month   16,500    16,500 
December 14, 2021  December 14, 2022  1% per month   25,000    25,000 
         $154,500   $154,500 

 

According to the loan agreements, there is not any additional interest and penalty for the loans passing maturity date.

 

During the three months ended March 31, 2025 and 2024, the Company recorded interest expense and accrued interest of $4,635 and $4,635, respectively and is included in interest expense in the consolidated statements of operations.