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DEBT | 12 Months Ended
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Dec. 31, 2022
DEBT |
DEBT | NOTE 9 – DEBT Long term debt at December 31, 2022 and December 31, 2021 is as follows:
|  | December 31, 2022 |  |  | December 31, 2021 |
Promissory note payable to First Security Bank of Missoula, bearing interest at 2.25%, payable in 59 monthly installments of $1,409 with a final payment of $152,726 maturing November 9, 2026; collateralized by a lien on Certificate of Deposit |  | $ | 201,908 |  |  | $ | 215,150 |
Installment contract payable to Caterpillar Financial Services, bearing interest at 6.65%, payable in 24 monthly installments of $7,210 maturing April 28, 2024; collateralized by 2007 Caterpillar 740 articulated truck |  |  | 110,097 |  |  |  | - |
|  |  | 312,005 |  |  |  | 215,150 |
Less current portion |  |  | (94,150 | ) |  |  | (13,230 | )
Long term portion |  | $ | 217,855 |  |  | $ | 201,920 |
At December 31, 2022, principal payments on debt are due as follows:
Twelve months ending December 31, |  | Principal payment |
2023 |  | $ | 94,150 |
2024 |  |  | 41,212 |
2025 |  |  | 13,071 |
2026 |  |  | 163,572 |
|  | $ | 312,005 |

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent + Details
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