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

NOTES PAYABLE

v3.26.1
NOTES PAYABLE
12 Months Ended
Dec. 31, 2025
Nonrelated Party [Member]  
Defined Benefit Plan Disclosure [Line Items]  
NOTES PAYABLE

NOTE 5 – NOTES PAYABLE

 

On December 23 2025, the Company entered into a business loan and security agreement (the WWCM loan agreement) with World Wide Capital Management (WWCM), pursuant to which the Company borrowed net proceeds of $399, after deducting fees as outlined in the WWCM loan agreement.

 

The loan amount is $500, with a loan origination fee of $20, providing for an advance amount of $480. The loan is to be paid in 48 weekly payments of $13 with the first six payments paid in advance and deducted from the initial funding. Net proceeds of $399 were received by the Company on December 26, 2025. The total repayment obligation to the Company is $640 resulting in an effective rate of approximately 34%.