7. NOTES PAYABLE AND NOTES RECEIVABLE – RELATED PARTY

On December 1, 2014, the Trust entered a Demand/Revolving Line of Credit/Promissory Note with Rare Earth Financial, LLC, an entity which is wholly owned by Mr. Wirth and his family members. The Demand/Revolving Line of Credit/Promissory Note, as amended on June 19, 2017, bears interest of up to 7.0% per annum for both a payable and receivable, interest is due quarterly but was currently paused, and automatically renews annually each calendar year. No prepayment penalty exists on the Demand/Revolving Line of Credit/Promissory Note. The balance fluctuates significantly through the period. On December 30, 2020, the Demand/Revolving Line of Credit/Promissory Note was extended and increased to $2,000,000. On November 26, 2025 the Demand/Revolving Line of Credit/Promissory Note was extended and increased to the current level of approximately $2,500,000. As of April 30, 2026, and January 31, 2026, the Trust had an amount payable of approximately $2,532,000 and $2,645,000, respectively. During the three months ended April 30, 2026 and 2025, the Trust accrued approximately $0, respectively, of interest expense.