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Note 4 - Loans | 6 Months Ended
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Jun. 30, 2025
Notes to Financial Statements |
Debt Disclosure [Text Block] | Note 4. Loans Equipment Loans On March 20, 2021, the Company entered into a debt arrangement to finance $165,996 for the purchase of an Output Solutions sorter. The loan was for a period of 36 months with a maturity date of March 20, 2024 and annual interest of 3.95%. Monthly principal and interest payments were required in the amount of $4,902. Principal payments for the three months ended June 30, 2025 and 2024 were $0. Principle payments for the six months ended June 30, 2025 and 2024 were $0 and $14,312, respectively, and are reflected on the Company's Condensed Consolidated Statement of Cash Flows. This loan was paid in full on its maturity date. On October 1, 2023, the Company entered into a debt arrangement to finance $811,819 for the purchase of an Output Solutions folder and inserter. The loan is for a period of 66 months with a maturity date of April 5, 2029 and annual interest of 6.75%. Monthly principal and interest payments are required in the amount of $16,017, with interest only payments required for the first six months of the loan term. Total interest and principal payments on this folder and inserter equipment loan were $47,953 for the three months ended June 30, 2025 and $36,687 for the three months ended June 30, 2024. Total interest and principal payments on this folder and inserter equipment loan were $95,906 for the six months ended June 30, 2025 and $50,168 for the six months ended June 30, 2024. As of June 30, 2025, the Company maintained an undrawn line of credit and an outstanding letter of credit, both of which were established in connection with a bond required for the Company's appeal of the court’s decision in the KDHM lawsuit. See "Note 11. Commitments and Contingencies" for further information. Line of Credit The Company has an unsecured revolving line of credit with a maximum borrowing capacity of $475,000. The facility was established on May 29, 2024, and matures on June 5, 2026. As of June 30, 2025, no amounts had been drawn under this line of credit since its origination. This line of credit was secured to support the bond requirement in the KDHM lawsuit appeal but remains fully available. Letter of Credit The Company has an irrevocable letter of credit in the amount of $474,229, issued on June 3, 2024, with a maturity date of June 3, 2026. This letter of credit was obtained as part of the bonding requirement for the KDHM lawsuit appeal and has not been drawn upon since its issuance. These credit facilities were arranged to comply with legal requirements related to the Company’s lawsuit appeal and provide additional liquidity resources if needed. Management continues to monitor its financial position and believes that existing cash balances, along with these credit facilities, are sufficient to meet operational needs and legal obligations. Future principal payments on current debt arrangements are as follows at June 30, 2025:
Year ending December 31, |  |  |  |
|  | Amount Due |
2025 (remainder of the year) |  | $ | 74,525 |
2026 |  |  | 158,043 |
2027 |  |  | 169,048 |
2028 |  |  | 180,818 |
2029 |  |  | 64,681 |
Total payments |  | $ | 647,115 |

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