Note 6. Loans Payable

On November 12, 2025, the Company entered into a fixed-fee short-term loan with its merchant bank and received $114,400 in net loan proceeds. The loan was repaid by the merchant bank withholding an agreed-upon percentage of payments they process on behalf of the Company with a minimum of $14,262 paid every 60 days. Although the loan was originally scheduled to mature in May 2027, it was repaid in full during June 2026. At December 31, 2025, the outstanding loan balance was $90,704, which was split between current and non-current liabilities on the condensed consolidated balance sheets.

See additional discussion of loans payable in Note 11 – Related Party Transactions.