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Note 14 - Other Expenses, Net
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Other Nonoperating Income and Expense [Text Block]

14. OTHER EXPENSES, NET

 

Other expenses net, consisted of the following:

 

  

During the Years

 
  

Ended December 31,

 
  

2025

  

2024

 

Interest expense(1)

 $493,384  $568,725 

Loss on disposal of property, plant and equipment

  106,350   15,391 

Impairment charge related to property plant and equipment(2)

  2,667,100   — 

Interest income

  (158,709)  (77,702)

Insurance recoveries(3)

  (426,587)  — 

Income - other

  (3,776)  — 

Other expenses, net

 $2,677,762  $506,414 

 

(1)

Interest expense includes amortization of debt issuance and debt discount costs of $54,348 and $42,666 during the years ended December 31, 2025 and 2024, respectively.

(2)

During the year ended December 31, 2025, we determined that certain machinery previously assigned to the Re-Tain® business no longer had a future use to the Company or any specific undiscounted cash flows other than estimated proceeds from the expected sale. As a result, we recognized an impairment charge on the machinery to write-down their cost to their estimated fair value.

(3)The income from insurance recoveries resulted from claim benefits paid to us under our business interruption policy related to inventory product losses occurring in previous periods.