Notes Payable

12 Months Ended

Dec. 31, 2025

Note 11 – Notes Payable

Notes payable consists of the following at December 31, 2025 and December 31, 2024, respectively:



	December 31, 2025		December 31, 2024
Notes payable, bearing interest of 6% per annum, matured April 8, 2025	$	-	$	239,250
EIDL Note		150,000		150,000
Total notes payable		150,000		389,250
Less unamortized debt discounts:		-		13,470
Notes payable		150,000		375,780
Less: current maturities		-		225,780
Notes payable, less current maturities	$	150,000	$	150,000

The Company used proceeds from the sale of manufacturing assets to pay down certain notes payable. Interest related to notes payable which were paid down as part of the sale of assets and discontinued operations were reclassified to loss from discontinued operations. Interest expenses related to notes payable, related parties, which were retained as part of the continued operations of the company for the twelve months ended December 31, 2025 and 2024, are as follows:


	For the Year Ended
	December 31,
	2025		2024
Interest on notes payable, related parties	$	88,872	$	338,651
Interest on notes payable		10,234		30,415
Amortization of debt discounts on notes payable		60,847		372,138
Total interest expense	$	159,953	$	741,204

- 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.

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+ Details