v3.26.3
Credit Agreement with Lake Forest Bank and Trust Company
9 Months Ended
Sep. 30, 2026
Credit Agreement with Lake Forest Bank and Trust Company  
Credit Agreement with Lake Forest Bank and Trust Company

Note 4 - On June 10, 2026, the Company entered into a Credit Agreement with Lake Forest Bank and Trust Company, N.A. for a new five-year term loan in the amount of $6,900,427 with scheduled repayments monthly bearing interest of SOFR, as defined in the agreement, plus 4% paid in arrears monthly on declining balance. The funds were used to pay the remaining balance to Corbel Capital Partners SBIC, L.P. (“Corbel”), to purchase and cancel all of the outstanding warrants previously owned by Corbel, to repay the Company’s sub-debt, to pay all costs associated with obtaining and closing on the bank loan and costs associated with repayment of Corbel. At September 30, 2026 the balance on the Lake Forest Bank and Trust Company, N.A. loan was $6,703,854.