Annual report [Section 13 and 15(d), not S-K Item 405]

NOTES PAYABLE

v3.25.1
NOTES PAYABLE
12 Months Ended
Dec. 31, 2024
Nonrelated Party [Member]  
Defined Benefit Plan Disclosure [Line Items]  
NOTES PAYABLE

NOTE 4 – NOTES PAYABLE

 

In prior years, the Company entered into several financing agreements for the purchase of equipment. The terms of these financing arrangements were for a term of 2 years to 5 years, with interest rates ranging from 1.9% to 6.9% per annum, secured by the purchased equipment, and maturing between September 2023 and July 2024. At December 31, 2022, the balance of these notes totaled $268. During 2023, note principal of $205 was repaid, and at December 31, 2023, the balance of the notes totaled $64. The notes were paid off in full during 2024.