| Schedule of debt |
| | | | | | | | | | | | | | | | | | | | | | Issuance Date | | Principal Amount | | Conversion
Price | | Conversion Option Period
of Exercisability
(from issuance date) | | Maturity Date
(from issuance date) | 1/1/2026 | | $ | 250,000 | | $ | 8.00 | | 210-days | | 210-days | 1/7/2026 | | | 228,000 | | $ | 1.20 | * | Upon Default | | 365-days | 1/13/2026 | | | 250,000 | | $ | 8.00 | | 210-days | | 210-days | 1/14/2026 | | | 100,000 | | $ | 8.00 | | 210-days | | 210-days | 1/20/2026 | | | 227,150 | | $ | 1.20 | * | Upon Default | | 365-days | 1/22/2026 | | | 250,000 | | $ | 1.04 | * | Upon Default | | 365-days | 1/27/2026 | | | 250,000 | | $ | 8.00 | | 210-days | | 210-days | 2/12/2026 | | | 228,000 | | $ | 1.20 | * | Upon Default | | 365-days | 3/30/2026 | | | 224,000 | | $ | 1.12 | * | Upon Default | | 365-days | | | $ | 2,007,150 | | | | | | | |
* The conversion price upon default has been calculated using the VWAP-based conversion price as per the respective agreements. This price may vary depending on the market conditions prevailing on the reporting date.
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Conversion Option | | | | | | | | | | | Period | | Maturity Date | | | | | | Conversion | | of Exercisability | | (from issuance | Issuance Date | | Gross Proceeds | | Price | | (from issuance date) | | date) | 5/26/2025 (1) | | $ | 156,000 | | $ | 8.0 | | 180-days | | 210-days | 10/1/2025 (2) | | | 188,000 | | | 1.6 | | Upon Default | | 302-days | 10/7/2025 (2) | | | 130,000 | | | 1.6 | | Upon Default | | 312-days | 10/23/2025 (3) | | | 246,250 | | | 1.2 | | Upon Default | | 365-days | 11/25/2025 (5) | | | 192,000 | | | 1.04 | | Upon Default | | 310-days | 11/25/2025 (4) | | | 500,000 | | $ | 8.0 | | 210-days | | 210-days | 12/2/2025 (4) | | | 250,000 | | $ | 8.0 | | 210-days | | 210-days | 12/8/2025 (4) | | | 1,000,000 | | $ | 8.0 | | 210-days | | 210-days | 12/8/2025 (4) | | | 250,000 | | $ | 8.0 | | 210-days | | 210-days | 12/8/2025 (4) | | | 50,000 | | $ | 8.0 | | 210-days | | 210-days | 12/16/2025 (4) | | | 250,000 | | $ | 8.0 | | 210-days | | 210-days | | | $ | 3,212,250 | | | | | | | |
(1)From issuance until day 180, the Note’s outstanding principal and accrued interest are convertible, at the holder’s option, into common shares at a price equal to 90% of the lowest daily VWAP of the Company’s common stock during the three trading days immediately preceding the conversion date. (2)These convertible notes are convertible at a price equal to the greater of (i) $1.60 or (ii) 65% multiplied by the lowest trading price for the common stock during the ten trading days immediately preceding the conversion date. (3)This convertible note is convertible at a price equal to 75% multiplied by the lowest closing bid price for the common stock during the fifteen trading days immediately preceding the conversion date. (4)For the first 210 days following issuance, the outstanding principal and accrued interest on each Note are convertible, at the holder’s option, into Common Stock at a price equal to the lower of (1) quotient (rounded down to the nearest whole share) obtained by dividing (x) the sum of the Principal Amount and any interest accrued thereon by (y) 90% of the lowest daily volume weighted average price (the “VWAP”) of the Common Stock on the primary trading market of the Common Stock during the 3 trading day period immediately prior to the applicable measurement date or (2) a fixed conversion price of $8,0. After the 180-day period, the Notes may convert at their fixed stated conversion price of $8.0. The Notes are expected to be converted into shares of our Common Stock. (5)These convertible notes are convertible at a price equal to 65% multiplied by the lowest trading price for the common stock during the ten trading days immediately preceding the conversion date.
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| Schedule of debt |
| | | | | | | | | | | | | | Description | | March 31, 2026 | | December 31, 2025 | Secured Promissory Notes | | $ | 1,332,962 | | $ | 1,344,610 | Small Business Administration Loans | | | 902,113 | | | 904,911 | Promissory Note | | | 874,985 | | | 144,985 | Vehicle Notes | | | 277,054 | | | 298,439 | Seller Notes | | | 1,087,868 | | | 1,097,869 | Avanti Notes (Related Party) | | | 268,572 | | | 279,076 | Real Estate Promissory Note | | | 370,000 | | | 370,000 | Business Loan and Security Agreement | | | 924,478 | | | 1,056,305 | Sale of Future Receipts | | | 2,615,834 | | | 518,388 | Purchase Order Financing | | | 172,000 | | | — | Notes Payable | | | 2,896,033 | | | 2,921,033 | Total | | $ | 11,721,899 | | $ | 8,935,616 | Less: debt discount and issuance costs | | | (1,492,901) | | | (657,064) | Less: notes payable, current portion | | | (8,530,688) | | | (7,098,279) | Notes payable, net of debt issuance costs and current portion | | $ | 1,698,310 | | $ | 1,180,273 |
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| | | | | | | | | | | | | | Description | | 2025 | | 2024 | Secured Promissory Notes | | $ | 1,344,610 | | $ | 4,250,000 | Small Business Administration Loans | | | 904,911 | | | 762,322 | Paycheck Protection Program Loans | | | — | | | 17,543 | Promissory Note | | | 144,985 | | | 79,000 | Vehicle Notes | | | 298,439 | | | 425,790 | Seller Notes | | | 1,097,869 | | | 1,434,959 | Avanti Notes (Related Party) | | | 279,076 | | | 179,910 | Real Estate Promissory Note | | | 370,000 | | | 370,000 | Business Loan and Security Agreement | | | 1,056,305 | | | 160,262 | Sale of Future Receipts | | | 518,388 | | | 856,150 | Notes Payable | | | 2,921,033 | | | — | Total | | $ | 8,935,616 | | $ | 8,535,936 | Less: debt discount and issuance costs | | | (657,064) | | | (212,772) | Less: notes payable, current portion | | | (7,098,279) | | | (7,019,499) | Notes payable, net of debt issuance costs and current portion | | $ | 1,180,273 | | $ | 1,303,665 |
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