Note 10 - Note Payable |
6 Months Ended |
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Jun. 30, 2026 | |
| Notes to Financial Statements | |
| Debt Disclosure [Text Block] |
NOTE 10 – NOTE PAYABLE
In June 2026, the Company purchased director and officer insurance policies with a policy period ending June 2027 and financed $0.4 million of its total premium by entering into a note payable with a finance provider that requires ten monthly installment payments through April 2027. The note is secured by a first priority lien on the financed policies. The short-term note bears interest at an annual percentage rate of 6.1% over the life of the note. As of June 30, 2026, the outstanding balance of the note was $0.4 million including interest.
In June 2025, the Company purchased director and officer insurance policies with a policy period ending June 2026 and financed $0.3 million of its total premium by entering into a note payable with a finance provider that required ten monthly installment payments through April 2026. The note was secured by a first priority lien on the financed policies. The short-term note bears interest at an annual percentage rate of 6.6% over the life of the note. As of December 31, 2025, the outstanding balance of the note was $0.1 million including interest. |
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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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