Notes Payable |
6 Months Ended |
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Jun. 30, 2026 | |
| Debt Disclosure [Abstract] | |
| Notes Payable | 7. Notes Payable
On August 9, 2025, the Company entered into a $170,000 note payable to finance the premiums of a business insurance policy, bearing interest at an annual interest rate of 7.45% and maturing on June 9, 2026, to replace the $210,000 note payable entered into on August 9, 2024, with an annual interest rate of 7.40% that matured on June 9, 2025 in conjunction with the annual renewal period. On May 26, 2025, the Company also entered into a note payable with a principal balance of $122,253 to finance subscription fees on certain software arrangements maturing on March 1, 2027. The outstanding principal was $42,726 and $158,292, of which $0 and $9,999 is included in other non-current liabilities in the Condensed Balance Sheets, as of June 30, 2026 and December 31, 2025, respectively.
Interest expense totaled $19,794 and $13,434 for the three months ended June 30, 2026 and 2025, respectively, and $45,983 and $15,672 for the six months ended June 30, 2026 and 2025, respectively. The Company’s accrued interest totaled $66,648 and $66,648 as of June 30, 2026 and December 31, 2025, respectively.
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- References No definition available.
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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