| Schedule of Debt |
Debt of the Company consisted of the following as of June 30, 2025 and December 31, 2024:
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June 30, 2025 |
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December 31, 2024 |
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Financing agreement with Imperial PFS that is unsecured. Down payment of $25,000 was required upfront and seven installment payments of $24,128 are to be made over the loan term. The note matured on August 1, 2025 and was paid in full. Annualized interest is 9.35%. |
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47,778 |
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- |
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Financing agreement with Imperial PFS that is unsecured. Down payment of $47,990 was required upfront and ten installment payments of $47,990 are to be made over the loan term. The note matured on August 1, 2025 and was paid in full. Annualized interest is 9.35%. |
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95,981 |
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382,013 |
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Financing agreement with Imperial PFS that is unsecured. Down payment of $14,040 was required upfront. Three installment payments of $14,830 and eight installment payments of $717 are to be made over the loan term. The note matured on July 1, 2025. Annualized interest is 10.45%. |
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- |
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4,299 |
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Secured loan with Brown Family Enterprises LLC. The note matures on March 31, 2026. Interest was 10% per annum for the year ended December 31, 2024, with an increase to 11% per annum as of March 27, 2025. |
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1,500,000 |
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1,500,000 |
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Loan with SE & SJ Liebel Limited Partnership. $5.0 million of Bitcoin has been pledged as collateral. The note matures on August 6, 2026. Interest is 12% per annum. |
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5,000,000 |
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5,000,000 |
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Debt discount |
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(92,127 |
) |
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(134,655 |
) |
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$ |
6,551,632 |
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$ |
6,751,657 |
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| Schedule of Principal Payments of Debt |
Minimum required principal payments on the Company's debt as of June 30, 2025 are as follows:
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Maturity |
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Amount |
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2025 |
|
$ |
143,759 |
|
2026 |
|
$ |
6,500,000 |
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|
$ |
6,643,759 |
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