Related-Party Notes |
3 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| Related-Party Notes | Note 4 — Related-Party Notes
(a) Promissory Note PN-2026-001. Face $61,300, non-interest-bearing, due March 18, 2028. Discount accreted at 3.59% effective rate; accretion for the quarter $512. Carrying value at June 30, 2026: $57,710.
(b) Founder Loan Facility. $100,000 discretionary facility from Mr. Murad. Draws during the quarter, each paid directly by the Lender to the vendor: April 28 — $1,250 (audit fee installment 1); May 7 — $1,250 (audit fee installment 2); May 25 — $1,000 (legal opinion, Exhibit 5.1); May 29 — $1,250 (EDGAR filing deposit). Balance at June 30, 2026: $4,750; headroom $95,250. Imputed interest of $22 recognized at the applicable federal short-term rate in effect for the month of each draw with an offsetting deemed capital contribution credited to additional paid-in capital under IRC §7872 / ASC 835-30.
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