Convertible Notes and Notes Payable	6 Months Ended
Jun. 30, 2026
Convertible Notes And Notes Payable
Convertible Notes and Notes Payable	Note 6 — Convertible Notes and Notes Payable Convertible Note Payable — Chase Mortgage On December 23, 2015, the Company issued a convertible note payable to Chase Mortgage, Inc., not a related party, for $25,000, at an interest rate of 8%, due on March 23, 2016. The note also included 100,000 warrants at an exercise price of $1 per share, which expired on December 23, 2020. The note is convertible at the holder’s discretion into the Company’s common stock at a price of $0.50 per share. The note has matured and is in default, which triggered an increased interest rate of 18%. The accrued interest balance on this note as of June 30, 2026 is $7,503 at the original 8% rate, plus an additional $46,245 of interest accrued at the 18% default rate. The note is recorded under convertible note payable in the liabilities section of the balance sheet at $25,000 and is in default. Notes Payable — Related Party On November 3, 2025 and November 11, 2025, The Farkas Group, Inc., an entity controlled by the Company’s Chairman, Michael D. Farkas, made loans to the Company in the amount of $250,000 each (totaling $500,000), each bearing interest at 8% per annum and maturing on May 3, 2026 and May 11, 2026, respectively. Both notes reached their stated maturity during the three months ended June 30, 2026 and were not repaid at maturity. As of June 30, 2026, the principal balance of $500,000, together with accrued interest of $25,753, remains outstanding. Under the terms of the notes, upon the Company’s failure to tender payment on the maturity date, the lender has the right, upon notice to the Company, to declare all outstanding principal and accrued interest immediately due and payable. As of the date these financial statements were available to be issued, the lender has not delivered a notice of acceleration or a demand for payment. Given the related-party nature of the notes, the Company anticipates that it will either repay the notes or negotiate an extension of the maturity dates with the lender; however, no agreement has been reached and the lender retains its contractual right to demand payment at any time. Short-term Advances — Related Party On October 14, 2025, Michael Farkas, the Company’s Chairman, advanced $18,000 to the Company at an interest rate of 18% per annum, maturing on October 14, 2026. As of June 30, 2026, accrued interest of $2,299 has been recorded on this advance. This advance has not yet reached maturity. Prior Period Conversions Substantially all other previously outstanding convertible notes and notes payable, including the $500,000 convertible debenture originally issued to Newell Trading Group (subsequently held by 16th Avenue Associates), the convertible note payable from Balance Group LLC, and the convertible note payable from the CEO, were converted into common stock of the Company on November 5, 2025 as part of the Company’s debt-to-equity conversion. See Note 4.

Convertible Notes and Notes Payable

6 Months Ended

Jun. 30, 2026

Note 6 — Convertible Notes and Notes Payable

Convertible Note Payable — Chase Mortgage

On December 23, 2015, the Company issued a convertible note payable to Chase Mortgage, Inc., not a related party, for $25,000, at an interest rate of 8%, due on March 23, 2016. The note also included 100,000 warrants at an exercise price of $1 per share, which expired on December 23, 2020. The note is convertible at the holder’s discretion into the Company’s common stock at a price of $0.50 per share. The note has matured and is in default, which triggered an increased interest rate of 18%. The accrued interest balance on this note as of June 30, 2026 is $7,503 at the original 8% rate, plus an additional $46,245 of interest accrued at the 18% default rate. The note is recorded under convertible note payable in the liabilities section of the balance sheet at $25,000 and is in default.

Notes Payable — Related Party

On November 3, 2025 and November 11, 2025, The Farkas Group, Inc., an entity controlled by the Company’s Chairman, Michael D. Farkas, made loans to the Company in the amount of $250,000 each (totaling $500,000), each bearing interest at 8% per annum and maturing on May 3, 2026 and May 11, 2026, respectively. Both notes reached their stated maturity during the three months ended June 30, 2026 and were not repaid at maturity. As of June 30, 2026, the principal balance of $500,000, together with accrued interest of $25,753, remains outstanding.

Under the terms of the notes, upon the Company’s failure to tender payment on the maturity date, the lender has the right, upon notice to the Company, to declare all outstanding principal and accrued interest immediately due and payable. As of the date these financial statements were available to be issued, the lender has not delivered a notice of acceleration or a demand for payment. Given the related-party nature of the notes, the Company anticipates that it will either repay the notes or negotiate an extension of the maturity dates with the lender; however, no agreement has been reached and the lender retains its contractual right to demand payment at any time.

Short-term Advances — Related Party

On October 14, 2025, Michael Farkas, the Company’s Chairman, advanced $18,000 to the Company at an interest rate of 18% per annum, maturing on October 14, 2026. As of June 30, 2026, accrued interest of $2,299 has been recorded on this advance. This advance has not yet reached maturity.

Prior Period Conversions

Substantially all other previously outstanding convertible notes and notes payable, including the $500,000 convertible debenture originally issued to Newell Trading Group (subsequently held by 16th Avenue Associates), the convertible note payable from Balance Group LLC, and the convertible note payable from the CEO, were converted into common stock of the Company on November 5, 2025 as part of the Company’s debt-to-equity conversion. See Note 4.