Certain Relationships and Related Transactions |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Certain Relationships and Related Transactions | |
| Certain Relationships and Related Transactions | Note 10. The Company has reviewed all transactions to which the Company and officers and directors of the Company are a party or have a financial interest. The board of directors of the Company has adopted a policy that all transactions between the Company and its officers, directors, principal shareholders and other affiliates must be approved by a majority of the Company’s disinterested directors and be conducted on terms no less favorable to the Company than could be obtained from unaffiliated third parties. In June 2026, with the new financing the subordinated note owned by Paul Mobley in the amount of $300,000 was repaid. Interest had been paid on that subordinated note during the six months ended June 30, 2026 of $15,000. Both of the above mentioned items were on the same terms and conditions as all other subordinated debt holders. In relation to the sub-debt, Paul Mobley exercised a warrant for 450,000 shares during the second quarter 2026. |