v3.26.1
LONG-TERM DEBT AND SHORT-TERM FINANCINGS
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
LONG-TERM DEBT AND SHORT-TERM FINANCINGS

NOTE 5. LONG-TERM DEBT AND SHORT-TERM FINANCINGS

 

Long-Term Debt

 

The composition of the long-term debt follow

   June 30, 2026   December 31, 2025 
         
Oak Street Funding LLC Term Loan for the acquisition of Barra & Associates, LLC, variable interest of prime rate plus 2.5%, maturing May 2032, net of deferred financing costs of $123,198 and $133,909 as of June 30, 2026, and December 31, 2025, respectively   4,364,023    5,101,266 
Less: current portion   (595,676)   (1,038,294)
Long-term debt  $3,768,347   $4,062,972 

 

The following table depicts the maturities of the Company’s outstanding long-term debt.

 

Years Ending December 31,   

Maturities of

Long-Term Debt

 
2026  $290,338 
2027   624,240 
2028   684,412 
2029   752,386 
2030   826,062 
Thereafter   1,309,783 
Total   4,487,221 
Less: debt issuance costs   (123,198)
Total  $4,364,023 

 

Short-Term Financings

 

The Company has various short-term notes payable for financed items such as insurance premiums. These are normally paid in equal installments over a period of twelve months or less and carry interest rates of up to 12% per annum. As of June 30, 2026, and December 31, 2025, balances outstanding on short-term financings were approximately $106,000 and $59,000 respectively.