RELATED PARTY TRANSACTIONS |
6 Months Ended |
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Jun. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | NOTE 9 – RELATED PARTY TRANSACTIONS
On June 30, 2024, the Company entered into an agreement with the Chief Executive Officer of the Company for an unsecured $500,000 line of credit facility. Total credit was increased to $750,000 with the addition of another $250,000 line of credit facility on June 12, 2025, and an additional $250,000 on May 12, 2026, bearing the same terms as the original line of credit. The total line of credit available from the Chief Executive Officer is currently $1,000,000. The line of credit bears interest of 6% per annum calculated on a daily basis, and there is no stated maturity date. The entire unpaid principal balance plus any accrued but unpaid interest shall be due and payable twelve months from the date of receipt of demand of payment by the lender. During the year ended December 31, 2025, the Company received advances of $231,471 and during the six months ended June 30, 2026, the Company received advances of $362,812 and repaid a total of $127,500. At June 30, 2026 and December 31, 2025, the total outstanding principal balance on this line of credit facility was $835,312 and $600,000, respectively. For the three months ended June 30, 2026 and 2025, interest expense was $11,786 and $7,410, respectively, and for the six months ended June 30, 2026 and 2025, interest expense was $22,766 and $13,086, respectively, and total accrued interest at June 30, 2026 and December 31, 2025, was $60,681 and $37,915, respectively.
The above amounts and terms of the transactions are not necessarily typical of agreements entered into by third parties.
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