v3.26.1
PROMISSORY NOTES (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Promissory Notes    
SCHEDULE OF PROMISSORY NOTES

 

Table 11.1: Details of Promissory Notes

 

 

   Principal Value   Unamortized Discount and Issuance Costs   Convertible Notes Carrying Balance   Weighted Average Interest Rate
Balance as of December 31, 2024  $2,498,369   $(11,380)  $2,486,989   16.6%
Issuance   690,558    (77,358)   613,200   13.5%
Repayment   (20,000)   —    (20,000)  35.0%
Amortization   36,667    21,297    57,964    
Balance as of March 31, 2025   3,205,594    (67,441)   3,138,153   15.8%
Conversion to equity   (456,500)   —    (456,500)  24.0%
Repayment   (50,000)   —    (50,000)  24.0%
Amortization   —    37,973    37,973    
Balance as of June 30, 2025   2,699,094    (29,468)   2,669,626   14.3%
Repayment   (31,579)   —    (31,579)  12.0%
Amortization   —    20,616    20,616    
Balance as of September 30, 2025   2,667,515    (8,852)   2,658,663   14.3%
Conversion to a convertible note   (166,666)   -    (166,666)  10.0%
Amortization   —    7,665    7,665    
Balance as of December 31, 2025   2,500,849    (1,187)   2,499,662   14.3%
Amortization   —    1,187    1,187    
Balance as of March 31, 2026  $2,500,849   $—   $2,500,849   14.3%

 

Table 13.1: Details of Promissory Notes
   Principal Value   Unamortized Discount and Issuance Costs   Convertible Notes Carrying Balance  

Weighted Average

Interest Rate

 
Balance as of December 31, 2024  $2,498,369   $(11,380)  $2,486,989    16.6%
Issuance   690,558    (77,358)   613,200    13.5%
Repayment   (20,000)   —    (20,000)   35.0%
Amortization   36,667    21,297    57,964      
Balance as of March 31, 2025   3,205,594    (67,441)   3,138,153    15.8%
Conversion to equity   (456,500)   —    (456,500)   24.0%
Repayment   (50,000)   —    (50,000)   24.0%
Amortization   —    37,973    37,973      
Balance as of June 30, 2025   2,699,094    (29,468)   2,669,626    14.3%
Repayment   (31,579)   —    (31,579)   12.0%
Amortization   —    20,616    20,616      
Balance as of September 30, 2025   2,667,515    (8,852)   2,658,663    14.3%
Conversion to a convertible note   (166,666)   -    (166,666)   10.0%
Amortization   —    7,665    7,665      
Balance as of December 31, 2025  $2,500,849   $(1,187)  $2,499,662    14.3%
SCHEDULE OF LOANS PAYABLE

Table 11.2: Details of Loans Payable

 

 

   March 31,
2026		   December 31,
2025		   Weighted Average Interest Rate  Maturity
(Calendar Year)
Note issued in 2017  $250,000   $250,000   4.0%  2020
Note issued in 2020   300,000    300,000   24.0%  2021
Note issued in 2021   400,000    400,000   24.0%  2021 - 2022
Notes issued in 2023   611,111    611,111   24.0%  2023
Notes issued in 2024   319,180    319,180   10.7%  2025
Notes issued in 2025   620,558    620,558   12.0%  2025 -2026
Funded loans payable   2,500,849    2,500,849   17.3%   
Less: Unamortized debt-issuance costs and discounts   -    (1,187)      
Total loans payable  $2,500,849   $2,499,662       

 

   2025   2024   Interest Rate   (Calendar Year)
Table 13.2: Details of Loans Payable
   As of December 31,  

Weighted Average

   Maturity
   2025   2024   Interest Rate   (Calendar Year)
Note issued in 2017  $250,000   $250,000    4.0%  2020
Note issued in 2020   300,000    300,000    24.0%  2021
Note issued in 2021   400,000    400,000    24.0%  2021 - 2022
Notes issued in 2023   611,111    1,067,611    24.0%  2023
Notes issued in 2024   319,180    480,758    10.7%  2025
Notes issued in 2025   620,558    -    12.0%  2025 -2026
Funded loans payable   2,500,849    2,498,369    17.3%   
Less: Unamortized debt-issuance costs and discounts   (1,187)   (11,380)        
Total loans payable  $2,499,662   $2,486,989