LOANS PAYABLE TO RELATED PARTIES |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related Party Transactions [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LOANS PAYABLE TO RELATED PARTIES | NOTE D - LOANS PAYABLE TO RELATED PARTIES
Loans payable to related parties consist of:
Pursuant to loan and contribution agreements dated July 31, 2018, the above loans are non-interest bearing and are to be repaid after the Company raises from investors no less than $1,500,000 or generates sufficient revenue to make repayments (each, a “Replacement Event”). If the First Replacement Event does not occur within 18 months from July 31, 2018, the loans are to be repaid immediately. In the event there is insufficient capital to repay the loans, the lenders have the option to convert all or part of the loans into shares at the Company common stock at the average trading price of the 10 days prior to the date of the conversion request.
TRAFALGAR INTERNATIONAL, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the Six Months Ended June 30, 2026 and 2025 (Unaudited)
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