Notes Payable |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Notes Payable | |
| Notes Payable | Note 5. Notes Payable
On August 5, 2024, the Company entered into a $150,000 promissory note with a third-party lender, which was non-interest bearing and had a maturity date of 60 days. On October 28, 2024, the Company entered into an amendment to this promissory note, which extended the maturity date to 120 days. On December 16, 2024, the Company rolled the $150,000 promissory note into a convertible note agreement with this third-party lender (see Note 4), leaving a $0 principal balance on the promissory note.
On January 9, 2026, the Company entered into a $26,250 promissory note with a third-party lender, which is payable in nine monthly installments of $3,065, has an interest rate of 12.5% and a maturity date of October 9, 2026. As of June 30, 2026, there was $10,924 principal balance on the promissory note included in notes payable on the balance sheet and no interest expense recorded.
On April 13, 2026, the Company entered into a $70,000 promissory note with a third-party lender, which carried an interest rate of 15% and a maturity date of July 31, 2026. As of June 30, 2026, there was $70,000 principal on the promissory note included in notes payable on the balance sheet and $2,244 of accrued interest.
Interest expense on the above notes payable was $2,244 and $0 during the three and six months ended June 30, 2026 and 2025, respectively. |