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Long-Term Debt, Net
6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Long Term Debt
8.Long Term Debt

 

The following table summarizes the Company’s debt (in thousands):

 

   June 30,
2026
   December 31,
2025
 
$149,900 Economic Injury Disaster Loan (EIDL), interest rate of 3.75%, due June 1, 2050   150          - 
$500,000 EIDL, interest rate of 3.75%, due May 8, 2050   470    - 
Total debt   620    - 
           
Less: current portion   (13)   - 
Long-term debt  $607   $- 

Small Business Association CARES Act Loans

 

In connection with its merger with Ryvyl Inc., effective May 12, 2026, the Company assumed a 30-year loan with a principal balance of $149,900 (plus deferred interest of 1,748) on the acquisition date and a 27-year loan with a principal balance of $471,640 on the acquisition date. Both loans were originally secured through the Small Business Association (“SBA”). The 30-year loan bears interest at 3.75% per annum and requires principal and interest payments of $731 per month. The monthly payments are first applied against any outstanding deferred interest. The 27-year loan bears interest at 3.75% per annum and requires principal and interest payments of $2,477 per month. As of June 30, 2026, both loans were in good standing.