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SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 8 — SUBSEQUENT EVENTS

 

Newly enacted tariffs and other trade restrictions have recently been imposed by the United States and other countries around the world. At this time, we expect tariff-related charges to have a gross margin impact of less than 100 bps on an annualized basis.

 

The Company renewed its commercial insurance premium finance and security agreement with its insurance provider on July 16, 2025 with an aggregate principal amount of the note of $406,751, for the insurance period covering July 1, 2025 – June 30, 2026. The Company retains the right to terminate the agreement at any time and pay the remaining balance in full along with a minimal penalty.