RELATED PARTY TRANSACTIONS AND BALANCES |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS AND BALANCES | 14. RELATED PARTY TRANSACTIONS AND BALANCES
Peter Zachariou and David Cantor, directors of the Company, are investment managers of Fountainhead which owned, at December 31, 2025, 60.95% of the Company’s Common Stock and 69.69% of the Company’s Series D Preferred Stock. Adrian Liddell, Chairman, is a consultant to Fountainhead. Peter Zachariou owns 0.15% of the Company’s Common Stock and 25.71% of the Company’s Series D Preferred Stock.
During the years ended December 31, 2025 and 2024, respectively, the Company accrued interest on related party loans of $50,283 and $50,013, respectively, and paid accrued interest on related party loans of $15,000 and $35,140, respectively.
During each of the years ended December 31, 2025 and 2024, the Company accrued an aggregate of $324,370 of Preferred D Stock dividends, of which $226,036 was regarding Fountainhead and $83,386 was regarding Peter Zachariou. Total accrued Preferred D Stock dividends at December 31, 2025 and 2024 was $2,919,330 and $2,594,960, respectively, of which $2,034,332 and $1,808,296, respectively, was regarding Fountainhead and $750,473 and $667,087, respectively, was regarding Peter Zachariou.
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