Note 22 - Subsequent Event |
12 Months Ended | ||
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Dec. 31, 2025 | |||
| Notes to Financial Statements | |||
| Subsequent Events [Text Block] |
As described in Note 12 above, subsequent to the year ended December 31, 2025, the Company amended the Note to, among other things (i) extend the maturity dates for $2,000,000 of the obligation to April 1, 2027, $2,000,000 to April 1, 2028, $5,000,000 to April 1, 2029 and $3,000,000 to April 1, 2030, and (ii) allow for the continued deferral of payment for up to 100% of the interest due on the Note to April 1, 2027. All other terms of the previously amended Note remain in place.
Obligations under the Note are guaranteed by all of the subsidiaries and are secured by a first priority lien on substantially all assets of the Company including those in Mexico.
On February 11, 2026, the Company, through its Mexican operations, entered into an unsecured loan agreement with Banco del Bajio (the “Mexico Bajio Loan”) in the amount of approximately $1,161,000 to fund working capital needs. The loan is to be paid in monthly installments over a five-year period and bears a fixed interest rate of 10.5% per annum.
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