v3.26.1
Notes Payable Related Parties (Tables)
6 Months Ended
Jun. 30, 2026
Notes Payable Related Parties  
Schedule of notes payable, related party

 

 

June 30,

2026

 

 

December 31,

2025

 

On April 12, 2010, the Company received an unsecured, non-interest-bearing loan in the amount of $2,000, due on demand from Robert Leitzman. Interest is being imputed at the Company’s estimated borrowing rate, or 10% per annum. The largest aggregate amount outstanding was $2,000 during the periods ended December 31, 2019 and December 31, 2018. Mr. Leitzman owns less than 1% of the Company’s common stock, however, the Mr. Leitzman is deemed to be a related party given the non-interest-bearing nature of the loan and the materiality of the debt at the time of origination.

 

$2,000

 

 

$2,000

 

 

 

 

 

 

 

 

 

 

Over various dates in 2011 and 2012, the Company received unsecured loans in the aggregate amount of $10,000, due on demand, bearing interest at 10%, from Sandra Orman. The largest aggregate amount outstanding was $10,000 during the periods ended December 31, 2019 and December 31, 2018. Mrs. Orman owns less than 1% of the Company’s common stock, however, Mrs. Orman is deemed to be a related party given the nature of the loan and the materiality of the debt at the time of origination.

 

$10,000

 

 

$10,000

 

 

 

 

 

 

 

 

 

 

During 2024 and 2025, the Company received advances totaling $472,000 from Glenn Martin and $37,403 from Nicole Breen, bearing interest at 5% and 12%, respectively. During 2025, the Company made payments totaling $135,000 to Glenn Martin. During the six months ended June 30, 2026, the Company received additional advances of $43,500 from Glenn Martin and $4,500 from Nicole Breen, bearing interest at 12%, and made a payment of $800 to Nicole Breen.

 

$421,603

 

 

$374,403

 

 

 

 

 

 

 

 

 

 

On May 2, 2022, the company acquired Hempirical Genetics, LLC with a note payable to the executive officer Jeffrey Miller with no interest. Payments of $0 and $25,000 were made toward the note in 2025 and 2024, respectively.

 

$120,000

 

 

$120,000

 

 

 

June 30,

2026

 

 

December 31,

2025

 

 

 

 

 

 

 

 

Notes payable, related parties

 

$553,603

 

 

$506,403

 

 

 

 

 

 

 

 

 

 

Less: Loan fee, net of amortization

 

$-

 

 

$(3,418 )

 

 

 

 

 

 

 

 

 

Notes payable, related parties

 

$553,603

 

 

$502,985