v3.26.1
NOTE PAYABLE
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
NOTE PAYABLE

8. NOTE PAYABLE

 

The Company has the following outstanding notes payable as of December 31, 2025 and 2024:

 

 

Note  

Issuance

Date

 

Maturity

Date

 

Interest

Rate

    Original
Borrowing
    Balance at
December 31,
2025
    Balance at
December 31,
2024
 
Note payable   May 15, 2020   May 15, 2050     3.75 %   $ 150     $             -     $ 118  
Total notes payable                             -       118  
Non-current                             -       (98 )
Current                           $ -     $ 20  

 

On May 15, 2020, the Company executed an unsecured loan with the SBA under the Economic Injury Disaster Loan program in the amount of $150. Monthly payments, including principal and interest, began on October 26, 2022. On March 7, 2025, the Company fully repaid the SBA loan balance, including accrued interest.

 

 

The following table provides a breakdown of interest expense for the periods presented:

 

         
    Years Ended December 31,  
    2025     2024  
             
Interest expense – amortization of debt discount   $ -     $ 99  
Interest expense – amortization of debt issuance costs     -       73  
Interest expense – other     1       65  
                 
Total interest expense   $ 1     $ 237