NOTE 16: NOTE RECEIVABLE

On June 9, 2026, the Company entered into a secured note receivable with Wasatch Springs in the amount of $137,500 which includes $12,500 of original issue discount which is deemed fully earned as of June 9, 2026. The note is due on December 9, 2026. In addition, interest will accrue at a rate of 10% through maturity. The note receivable is secured by the assets of Wasatch Springs. There was $793 of interest income recorded on this note through June 30, 2026.

The funds were advanced to Wasatch Springs to support the Zermatt Resort operations during the acquisition process. The Company expects to receive a cash payment on the note receivable by the due date.