Notes Payable – Stockholders |
6 Months Ended |
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Jun. 30, 2026 | |
| Notes Payable – Stockholders [Abstract] | |
| NOTES PAYABLE – STOCKHOLDERS | NOTE 7 – NOTES PAYABLE – STOCKHOLDERS
These notes payable to stockholders are classified as current liabilities as of June 30, 2026 and December 31, 2025, totaling $595,000. The notes have no formal repayment terms. Of the total outstanding notes payable, $370,000 bears interest at 10% per annum, while the remaining $225,000 bears interest at 20% per annum.
Accrued interest on the notes was $567,662 and $526,652 as of June 30, 2026 and December 31, 2025, respectively. Interest expense related to these notes payable was $20,618 and $41,010 for the three and six months ended June 30, 2026 and for the three and six months ended June 30, 2025. |
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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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- References No definition available.
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