Certain Relationships and Related Transactions |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Certain Relationships and Related Transactions | |
| Certain Relationships and Related Transactions | Note 10. The Company has reviewed all transactions to which the Company and officers and directors of the Company are a party or have a financial interest. The board of directors of the Company has adopted a policy that all transactions between the Company and its officers, directors, principal shareholders and other affiliates must be approved by a majority of the Company’s disinterested directors and be conducted on terms no less favorable to the Company than could be obtained from unaffiliated third parties. In June 2026, with the new financing, the subordinated note owned by Paul Mobley in the amount of $300,000 was repaid. Interest had been paid to Paul Mobley on that subordinated note prior to its repayment on June 10, 2026 in the amount of $15,000. Both of the above mentioned items were on the same terms and conditions as all other subordinated debt holders. In relation to the sub-debt, Paul Mobley exercised a warrant and paid the exercise price for 450,000 shares during the second quarter of 2026. Legal fees were paid to Roberts Means Roncevic Kapela, LLC of which director, Jeffrey Roberts, was the founding member, in the amount of $20,141 in the three-months ended September 30, 2026 and $72,809 in the nine-months ended September 30, 2026. |