2026

2025

The Company entered into a $863,607 mortgage note payable, securitized by the Company’s real estate and cross-collateralized with all Company assets, with M&T Bank, requiring monthly installments of $7,389, including interest at a fixed rate of 6.13%. The note matures in February 2029.

$

789,074

$

799,052

The Company entered into a $1,064,000 term note payable with the U.S. Small Business Administration, requiring monthly installments of $6,652, including fees and interest at a fixed rate of 2.22%. The note matures in June 2036. The note is secured by certain assets of the Company and a personal guaranty of the Company’s stockholder.

603,369

616,440

On November 13, 2025, the Company entered into a $1,268,732 Stockholder Loan, the proceeds of which were applied to pay down the M&T term notes above. The note is subject to an M&T Bank subordination agreement which may limit any repayments. The note amortization calls for monthly payments of $40,031.03 at 6.95% effective annual rate and matures on October 31, 2028. On February 28, 2026, the Company borrowed an additional $200,000 from the same stockholder with identical terms, other than the second loan matures on January 31, 2029.

1,468,733

1,268,732

Total Long-Term Debt

2,861,176

2,684,224

Less: Unamortized Debt Issuance Costs

50,921

55,091

Long-Term Debt, Less Unamortized Debt Issuance Costs

2,810,255

2,629,133

Less: Current Maturities

558,116

499,853

Long-Term Debt

$

2,252,139

$

2,129,280