Loans Payable |
3 Months Ended | ||
|---|---|---|---|
Mar. 31, 2026 | |||
| Loans Payable | |||
| Loans payable |
Small Business Administration (EIDL) Loan
On June 12, 2020, the Company received a $150,000 Economic Injury Disaster Loan. Principal and interest payments commenced after the initial deferral period. As of March 31, 2026 the outstanding balance was $145,990.
Related Party Loans Payable
As of March 31, 2026, the Company had outstanding promissory notes issued to its former CEO, reviewed and approved by the Board under the Company’s Related Party Transaction Policy for general corporate purposes.
The note, issued on December 17, 2025, has a principal amount of $100,000. It carries an annual interest rate of 8%. As of March 31, 2026, the remaining balance on the loan is $85,228. |