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LONG-TERM DEBT (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
LONG-TERM DEBT |
Schedule of Long-term debt |
|  | June 30, 2024 |  |  | December 31, 2023 |
Installment contract payable to Komatsu, bearing interest at 3.49%, payable in 36 monthly installments of $11,799 maturing May 2027; collateralized by the Komatsu Wheel Loader |  | $ | 392,094 |  |  | $ | - |
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 |  |  | - |  |  |  | 28,443 |
Total debt |  |  | 392,094 |  |  |  | 28,443 |
Less current portion of debt |  |  | (129,967 | ) |  |  | (28,443 | )
Long term portion of debt |  | $ | 262,127 |  |  | $ | - |
Schedule of principal payments on debt |
Twelve months ending June 30, |  | Principal Payment |
2025 |  | $ | 129,967 |
2026 |  |  | 134,577 |
2027 |  |  | 127,550 |
|  | $ | 392,094 |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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