v3.25.2
Schedule of Long Term Debt (Details) - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Short-Term Debt [Line Items]    
Long-term debt $ 2,478,419 $ 5,264,510
Less deferred debt issuance cost (149,191) (260,513)
Less current installments (235,865) (222,992)
Long-term debt 2,093,363 4,781,005
Revolving Credit Facility [Member]    
Short-Term Debt [Line Items]    
Long-term debt [1] 1,126,961 3,808,025
Other [Member]    
Short-Term Debt [Line Items]    
Long-term debt [2] $ 1,351,458 $ 1,456,485
[1] On July 19, 2024, the Company, as the guarantor, and Worksport New York Operations Corporation as well as Worksport USA Operations Corporation, entered into a $
[2] On September 4, 2024, the Company, through its wholly owned subsidiary, Worksport USA Operations Corporation, entered into a $1,487,200 credit and security agreement with an external lending entity with a maturity date of September 1, 2027, which is 36 months from initial funding. Upon transaction close, the Company received net proceeds of $1,412,750 (net of issuance costs of $43,735). The Company and its wholly owned subsidiary, Worksport New York Operations Corporation, serve as guarantors on the loan. For collateral, the lender holds a first position on the Company’s equipment, which is primarily manufacturing and warehousing equipment. Interest on the loan is based on the prime rate plus 700 basis points per annum.