NOTES PAYABLE |
6 Months Ended | ||
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Jun. 30, 2025 | |||
| Debt Disclosure [Abstract] | |||
| NOTES PAYABLE |
On May 22, 2025, the Company financed the purchase of a forklift for $137 with a finance charge of $12. The financing arrangement is scheduled to mature on May 23, 2030, and is payable in monthly installments over a 60-month term. Monthly payments are initially set at approximately $3 for the first six months with a balloon payment in December 2025 of $95. Thereafter monthly payments are $1 per month through maturity.
The note is secured by the forklift and is recorded as part of the unaudited condensed consolidated balance sheets. As of June 30, 2025, the outstanding principal balance was $137. The note is not subject to restrictive covenants beyond customary terms. The liability is classified in current and long-term notes payable. |
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- References No definition available.
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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