Note 3 - Convertible Notes Payable |
12 Months Ended | ||
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Dec. 31, 2025 | |||
| Notes to Financial Statements | |||
| Debt Disclosure, Related Party [Text Block] |
On November 20, 2015, trustees on our board of trustees, two of whom are no longer trustees, loaned $198 thousand to the Company in exchange for convertible notes payable. The convertible notes payable accrue interest at 10% per annum and originally matured on November 20, 2018. The convertible notes payable were convertible by the noteholders into common shares at the rate of $1.331 per common share at any time. Accrued interest on these convertible notes was approximately $164 thousand as of December 31, 2025 and $179 thousand as of December 31, 2024. In January 2026, we repaid the convertible notes including only interest accrued prior to the filing of the bankruptcy petition pursuant to our plan of liquidation and bankruptcy court proceedings.
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