v3.26.1
Note 9 - Long-term Debt
3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Long-Term Debt [Text Block]

NOTE 9 – LONG-TERM DEBT

 

The components of notes payable are as follows:

 

  

March 31,

  

December 31,

 
  

2026

  

2025

 

Senior promissory notes

 $6,000,000  $6,000,000 

Less: unamortized debt discount

  (401,951)  (489,455)

Total senior promissory notes payable, net

 $5,598,049  $5,510,545 
         

Senior promissory notes payable, less current portion

  5,598,049   5,510,545 

Total senior promissory notes payable, net

 $5,598,049  $5,510,545 

 

For the three months ended March 31, 2026, and 2025, the Company recognized amortization of debt discount of $87,504 and $168,030, respectively. During the three months ended March 31, 2026  accrued interests of $147,945 was recognized. This amount is March 31, 2026 included in Accrued Expenses.