v3.26.1
Note 8 - Notes Payable
3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Accounts Payable and Accrued Liabilities Disclosure [Text Block]

8. NOTES PAYABLE

 

On April 22, 2020, the Company received an Economic Injury Disaster Loan of $10,000 from the Small Business Administration ("SBA") to provide economic relief during the COVID-19 pandemic. This loan advance is not required to be repaid, has no stipulations on use, and has been recorded as fees and other income in the consolidated statements of operations during fiscal 2020. On August 17, 2020, we received an additional Economic Injury Disaster Loan ("EIDL") of $150,000, for which principal and interest payments are deferred for twelve months from the date of issuance, and interest accrues at 3.75% per year. The loan matures on August 17, 2050. We have used the funds for general corporate purposes to alleviate economic damage caused by the COVID-19 pandemic, which economic injury included abating or deferring rent to certain tenants (primarily retail tenants). As of March 31, 2026 and December 31, 2025, the principal balance on the SBA loan was approximately $139,797 and $140,674, respectively.