v3.26.1
Notes Payable
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Notes Payable

Note 8. Notes Payable

 

On August 25, 2021, the Company completed the purchase of real property located in Chandler, Arizona (the “Property”) for $10,800,000 paid with cash and proceeds from a mortgage loan from Arizona Bank & Trust in the amount of $8,600,000. The loan terms include interest to be accrued at a fixed rate of 3% per year, 119 regular monthly payments of $40,978, and one irregular payment of $5,956,538 due on the maturity date of August 23, 2031. The Company began making monthly payments on September 23, 2021. The payment and performance of the loan is secured by a security interest in the property acquired.

 

Note payable amounts consist of the following:

   March 31, 2026   December 31, 2025 
         
Short-term liabilities          
Note payable, principal  $214,084   $215,037 
Accrued interest to date   11,897    12,717 
           
Note Payable, short-term  $225,981   $227,754 
           
Long-term liabilities          
Note payable, principal  $7,248,704   $7,314,085 
           
Note payable, long term  $7,248,704   $7,314,085