Notes Payable |
6 Months Ended |
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Jun. 30, 2026 | |
| Debt Disclosure [Abstract] | |
| Notes Payable | Note 4 – Notes Payable
On June 20, 2025, the Company entered into a promissory note to finance its directors and officers (“D&O”) insurance premium. The original principal amount of the note was $151,300 and bore interest at a fixed annual rate of 8.250%. The note required monthly payments of principal and interest and matured on May 20, 2026. The note has been fully paid down.
As of June 30, 2026 and December 31, 2025, the outstanding principal balance was $0 and $60,520, respectively. The note was unsecured and contained no financial covenants.
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- References No definition available.
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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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