| Schedule of Line of Credit and Notes Payable, Net of Discount |
The
following is a summary of the notes payable as of June 30, 2026 and December 31, 2025:
| Notes Payable | |
June 30,
2026 | | |
December 31,
2025 | |
| Note payable issued November 29, 2021 | |
$ | - | | |
$ | 336,983 | |
| Note payable issued December 1, 2021 | |
| 1,500,600 | | |
| 1,500,600 | |
| Note payable issued August 18, 2023 | |
| 64,000 | | |
| 64,000 | |
| Note payable issued August 3, 2023 | |
| 33,000 | | |
| 33,000 | |
| September 2025 Promissory Note | |
| 158,517 | | |
| 446,192 | |
| Encompass SBA loan | |
| 200,000 | | |
| - | |
| First Insurance Funding loan | |
| 66,705 | | |
| - | |
| Total notes payable | |
| 2,022,822 | | |
| 2,380,775 | |
| Less: Current portion | |
| (334,582 | ) | |
| (880,175 | ) |
| Less: Fair value adjustment for debt | |
| (906,659 | ) | |
| (906,659 | ) |
| Total notes payable, net of current portion | |
$ | 781,581 | | |
$ | 593,941 | |
|
The
following is a summary of the notes payable as of December 31, 2025, and 2024:
| | |
December 31, | | |
December 31, | |
| Notes Payable | |
2025 | | |
2024 | |
| | |
| | |
| |
| Note payable issued November 29, 2021 | |
$ | 336,983 | | |
$ | 336,983 | |
| Note payable issued December 1, 2021 | |
| 1,500,600 | | |
| 1,500,600 | |
| Note payable issued August 18, 2023 | |
| 64,000 | | |
| 64,000 | |
| Note payable issued November 29, 2023 | |
| 33,000 | | |
| 33,000 | |
| September 2025 promissory note | |
| 446,192 | | |
| - | |
| May 2025 convertible note | |
| 361,821 | | |
| - | |
| Total notes payable | |
| 2,742,596 | | |
| 1,934,583 | |
| Less: Current portion | |
| (1,241,996 | ) | |
| (433,983 | ) |
| Less: Fair value adjustment for debt | |
| (906,659 | ) | |
| (906,659 | ) |
| Total notes payable, net of current portion | |
$ | 593,941 | | |
$ | 593,941 | |
|
| Schedule of Required Principal Payments |
Required
principal payments under the Company’s notes payable are as follows:
| Year Ending December 31, 2026 (Remaining 6 months) | |
$ | 334,582 | |
| Year Ending December 31, 2027 | |
| 37,720 | |
| Year Ending December 31, 2028 | |
| 39,008 | |
| Year ending December 31, 2029 | |
| 40,646 | |
| Year ending December 31, 2030 | |
| 42,198 | |
| Thereafter | |
| 1,528,668 | |
| Total | |
$ | 2,022,822 | |
|
Required
principal payments under the Company’s notes payable are as follows:
| Year Ending December 31, 2026 | |
$ | 1,241,996 | |
| Year Ending December 31, 2027 | |
| 37,720 | |
| Year Ending December 31, 2028 | |
| 39,008 | |
| Year ending December 31, 2029 | |
| 40,646 | |
| Year ending December 31, 2030 | |
| 42,198 | |
| Thereafter | |
| 1,341,028 | |
| Total | |
$ | 2,742,596 | |
|