v3.26.1
Notes Payable
 3 Months Ended
Mar. 31, 2026
Notes Payable  
NOTES PAYABLE

NOTE 5 – Notes Payable

 

Promissory notes payable as of March 31, 2026 and December 31, 2025 consists of the following:

 

March 31, 2026

 

 

December 31, 2025

 

 

46,000

 

 

$46,000

 

 

5,000

 

 

 

5,000

 

 

5,000

 

 

 

5,000

 

 

28,500

 

 

 

28,500

 

 

9,667

 

 

 

9,667

 

 

8,670

 

 

 

8,670

 

 

3,000

 

 

 

3,000

 

 

5,565

 

 

 

5,565

 

 

6,500

 

 

 

6,500

 

 

20,000

 

 

 

20,000

 

 

3,045

 

 

 

3,045

 

 

2,230

 

 

 

2,230

 

 

2,500

 

 

 

2,500

 

 

4,500

 

 

 

4,500

 

 

13,005

 

 

 

13,005

 

 

5,923

 

 

 

5,923

 

 

5,000

 

 

 

5,000

 

 

5,000

 

 

 

5,000

 

 

4,000

 

 

 

4,000

 

 

10,000

 

 

 

10,000

 

 

4,155

 

 

 

4,155

 

 

9,000

 

 

 

9,000

 

 

2,000

 

 

 

2,000

 

 

5,000

 

 

 

5,000

 

 

500

 

 

 

500

 

 

5,000

 

 

 

5,000

 

 

9,791

 

 

 

9,791

 

 

2,476

 

 

 

2,476

 

 

3,500

 

 

 

3,500

 

 

500

 

 

 

500

 

 

5,000

 

 

 

5,000

 

 

5,000

 

 

 

5,000

 

 

18,644

 

 

 

18,644

 

 

2,295

 

 

 

2,295

 

 

11,572

 

 

 

11,572

 

 

6,887

 

 

 

-

 

 

20,353

 

 

 

-

 

 

304,778

 

 

$277,538

 

 

The Company has issued various promissory notes amounting to $48,167 for general operating purposes. The notes carry a various interest rates ranging from 8 -15% and are due on demand.

 

The Company received approval from the U.S. Small Business Administration to fund the Company’s request for a loan under the SBA’s Economic Injury Disaster Loan Program (EDIL loan). In connection with the EDIL Loan, the Company has entered into the promissory note in principal amount of $46,000. The EDIL Loan is scheduled to mature on March 2052, has a 3.75% interest rate, and is subject to the terms and conditions applicable to all loans made pursuant to the EDIL loans as administered by the SBA.

 

During the three months ended March 31, 2026, the Company issued various promissory notes amounting to $27,240 for general operating purposes. The notes carry a interest rate of 10% and are due on demand. As of March 31, 2026 and December 31, 2025, the Company had notes due to this noteholder amounting to $210,611 and $183,371, respectively.

 

During the three months ended March 31, 2026 and 2025, the Company recorded interest expense of $6,075 and $4,959, respectively.