| Schedule of Line of Credit and Notes Payable, Net of Discount |
The following is a summary
of the notes payable as of March 31, 2026, and December 31, 2025:
| | |
March 31 | | |
December 31, | |
| Notes Payable | |
2026 | | |
2025 | |
| Note payable issued November 29, 2021 | |
$ | — | | |
$ | 336,983 | |
| Note payable issued December 1, 2021 | |
| 1,500,600 | | |
| 1,500,600 | |
| Note payable issued August 18, 2023 | |
| 64,000 | | |
| 64,000 | |
| Note payable issued August 3, 2023 | |
| 33,000 | | |
| 33,000 | |
| September 2025 promissory note | |
| 302,355 | | |
| 446,192 | |
| Encompass SBA loan | |
| 200,000 | | |
| — | |
| First Insurance Funding loan | |
| 112,378 | | |
| — | |
| Total notes payable | |
| 2,212,333 | | |
| 2,380,775 | |
| Less: Current portion | |
| (524,093 | ) | |
| (880,175 | ) |
| Less: Fair value adjustment for debt | |
| (906,659 | ) | |
| (906,659 | ) |
| Total notes payable, net of current portion | |
$ | 781,581 | | |
$ | 593,941 | |
|
| Schedule of Required Principal Payments |
Required principal payments under the Company’s notes payable
are as follows:
| Year Ending December 31, 2026 (Remaining 9 months) | |
$ | 524,093 | |
| Year Ending December 31, 2027 | |
| 37,720 | |
| Year Ending December 31, 2028 | |
| 39,008 | |
| Year ending December 31, 2029 | |
| 40,646 | |
| Year ending December 31, 2030 | |
| 42,198 | |
| Thereafter | |
| 1,528,668 | |
| Total | |
$ | 2,212,333 | |
|