RELATED PARTY TRANSACTIONS |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | NOTE 13 – RELATED PARTY TRANSACTIONS
The Company defines a related party as an individual or entity that has the ability to exercise significant influence over the Company’s management or operations. Related parties include, among others, the Company’s principal stockholders, directors, executive officers, and members of their immediate families, as well as entities controlled by, or under common control with, such individuals.
The Company retained Donald P. Balzano, a shareholder owning 6.9% of the Company’s common stock, as legal counsel through September 2025. Mr. Balzano provided legal guidance and expertise in the workers’ compensation industry on behalf of the Company. The fees paid to Mr. Balzano are recorded in Professional Fees on the consolidated statement of operations. For the six months ended June 30, 2025, Mr. Balzano earned $72,072 related to the retainer agreement.
The Company’s former CFO and board member, Kristina Kubota, provides financial consulting services for the Company. Kristina Kubota is the daughter of Tom Kubota, the Company’s CEO, President, Chairman of the board and majority shareholder. Ms. Kubota’s consulting arrangement commenced upon her resignation from the CFO position with the Company on March 5, 2024. The fees paid to Ms. Kubota are recorded in Professional Fees on the consolidated income statement. Fees for services not yet billed are included in Accrued Expenses on the consolidated balance sheet, totaling $100 at both June 30, 2026 and December 31, 2025. For the six months ended June 30, 2026 and 2025, Ms. Kubota earned $0 and $377, respectively, for such services.
The Company’s former Vice President, Secretary and board member, Lauren Kubota, resigned from her positions with the Company during the third quarter of 2025. After her resignation, Lauren Kubota provided consulting services for the Company. The consulting arrangement commenced on August 4, 2025 and expired on August 31, 2025. Lauren Kubota is the daughter of Tom Kubota, the Company’s CEO, President, Chairman of the board and majority shareholder. No fees related to these consulting services were included in accrued expenses at June 30, 2026 and December 31, 2025. No fees related to these services were earned during the six months ended June 30, 2026 and 2025. |