v3.26.1
Schedule of Future Amortization of Loan Payable (Details)
Dec. 31, 2025
USD ($)
2026 $ 15,484
2027 12,093
2028 13,649
Thereafter 5,455
Total Note Payments 46,682
Current Portion of Loan Payable (15,484)
Non-Current Portion of Loan Payable 31,198
Mercedes Benz [Member]  
2026 [1]
2027 [1]
2028 [1]
Thereafter [1]
Non-Current Portion of Loan Payable [1]
Navitas 2021 BLU3 [Member]  
2026 4,769 [2]
2027 [2]
2028 [2]
Thereafter [2]
Total Note Payments 4,769 [2]
Current Portion of Loan Payable (4,769) [2]
NFS SSI [Member]  
Non-Current Portion of Loan Payable [3]
Navitas 2022 BLU3 [Member]  
Non-Current Portion of Loan Payable [4]
Navitas 2024 BLU3 One [Member]  
2026 6,304 [5]
2027 7,091 [5]
2028 7,977 [5]
Thereafter 708 [5]
Total Note Payments 22,081 [5]
Current Portion of Loan Payable (6,304) [5]
Non-Current Portion of Loan Payable 15,777 [5]
Navitas 2024 BLU3 Two [Member]  
2026 4,411 [6]
2027 5,002 [6]
2028 5,672 [6]
Thereafter 4,747 [6]
Total Note Payments 19,832 [6]
Current Portion of Loan Payable (4,411) [6]
Non-Current Portion of Loan Payable $ 15,421 [6]
[1] On August 21, 2020, the Company executed an instalment sales contract with Mercedes Benz Coconut Creek for the purchase of a 2019 Mercedes Benz Sprinter delivery van. The instalment agreement is for $55,841 with a zero interest rate payable over 60 months with a monthly payment of $931 and is personally guaranteed by Robert Carmichael. The loan balance as of December 31, 2024 was $8,686 and $19,855 as of December 31, 2023. This loan was paid off in 2025.
[2] On May 19, 2021, subsidiary BLU3, executed an equipment finance agreement to finance the purchase of certain plastic molding equipment through Navitas Credit Corp. (“Navitas”). The amount financed is $75,764 payable over 60 equal monthly instalments of $1,611 (the “Navitas 1”). The equipment finance agreement contains customary events of default. The loan balance as of December 31, 2025 was $4,769 and $24,362 as of December 31, 2024.
[3] On June 29, 2022, SSI executed an equipment financing agreement with NFS Leasing (“NFS Leasing”) to secure replacement production molds. The total purchase price of the molds was $84,500 of which $63,375 was financed by NFS Leasing on August 15, 2022. The financing agreement has a 33 month term beginning in August 2022 with a monthly payment of $2,571. The financing agreement contains customary events of default, is guaranteed by the Company and NFS Leasing has a lien on all of the assets of SSI. The loan balance as of December 31, 2024 and December 31, 2023 was $12,329 and $38,607, respectively. This loan was paid off in 2025.
[4] On December 12, 2022, BLU3 executed an equipment finance agreement to finance the purchase of certain plastic molding equipment through Navitas Credit Corp. (“Navitas”). The amount financed is $63,689 payable over 36 equal monthly installments of $2,083 (“Navitas 2”). The equipment finance agreement contains customary events of default. The loan balance as of December 31, 2025 was 0 and $44,839 as of December 31, 2023. This loan was paid off in 2025.
[5] On February 12, 2024, BLU3 executed an inventory finance agreement to finance the purchase of certain equipment stock through Navitas. The amount financed is $32,274 payable over 60 equal monthly installments of $715. The inventory finance agreement contains customary events of default. The loan balance as of December 31, 2025 and 2024 was $22,817 and $27,685.respectively.
[6] On September 4, 2024, BLU3 executed an inventory finance agreement to finance the purchase of certain equipment stock through Navitas. The amount financed is $24,620 payable over 60 equal monthly installments of $602. The inventory finance agreement contains customary events of default. The loan balance as of December 31, 2025 and, 2024 was $19,832 and $224,024, respectively.