v3.26.1
Notes Payable
 3 Months Ended
Mar. 31, 2026
Notes Payable [Abstract]  
Notes Payable

Note 11 – Notes Payable

 

Notes payable consists of the following at March 31, 2026 and December 31, 2025, respectively:

 

   March 31,
2026		   December 31,
2025		 
Notes payable, bearing interest of 6% per annum, matured April 8, 2025  $
-
   $
-
 
EIDL Note   150,000    150,000 
Total notes payable   150,000    150,000 
Less unamortized debt discounts:   
-
    
-
 
Notes payable   150,000    150,000 
Less: current maturities   
-
    
-
 
Notes payable, less current maturities  $150,000   $150,000 

 

The Company used proceeds from the sale of manufacturing assets to pay down certain notes payable. Interest related to notes payable which were paid down as part of the sale of assets and discontinued operations were reclassified to loss from discontinued operations. Interest expenses related to notes payable, related parties, which were retained as part of the continued operations of the company for the three months ended March 31, 2026 and 2025, are as follows:

 

    For the Year Ended  
    March 31,  
    2026     2025  
Interest on notes payable, related parties   $ -     $ 50,000  
Amortization of debt discounts on notes payable, related parties     -       116,617  
Interest on notes payable     47,984       3,589  
Amortization of debt discounts on notes payable     195,610       12,370  
Total interest expense   $ 243,594     $ 182,576