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Note 22 - Subsequent Event
12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Subsequent Events [Text Block]

(22)

Subsequent Event

 

As described in Note 12 above, subsequent to the year ended December 31, 2024, the Company amended the Note to, among other things (i) increase the principal amount by $3,000,000 to $12,000,000, (ii) extend the maturity dates for $2,000,000 of the obligation to April 1, 2026, $2,000,000 to April 1, 2027, $5,000,000 to April 1, 2028 and $3,000,000 to April 1, 2029, and (iii) allow for the deferral of payment for up to 100% of the interest due on the Note to April 1, 2026. All other terms of the previously amended Note remain in place.

 

Obligations under the Note are guaranteed by all of the subsidiaries and are secured by a first priority lien on substantially all assets of the Company including those in Mexico.