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Secured Notes Payable – Related Party

12 Months Ended

Dec. 31, 2025

8. Secured Notes Payable – Related Party

Secured notes payable to a related party consist of the following at December 31, 2025 and 2024:

	December 31, 2025		December 31, 2024
Secured note payable – related party	$	-	$	2,000,000
Less debt discount		-		(4,000	)
Total principal balance		-		1,996,000
Accrued interest		-		64,274
Total principal and accrued interest		-		2,060,274
Less current portion		-		(2,060,274	)
Non-current portion	$	-	$	-

On September 20, 2024, the Company entered into a secured promissory note with Spars Capital Group LLC (“Spars Capital”) in the principal amount of $2,000,000, bearing annual interest at 11.5%, with a maturity date of January 20, 2025. As of December 31, 2024, the notes payable had an aggregate principal balance outstanding of $2,000,000, a debt discount balance of $4,000, and accrued interest payable of $64,274. During the year ended December 31, 2025, the Company paid the Note, including accrued interest, and the Note was retired. The Note was secured by a blanket lien on the Company’s assets, subordinated only to the line of credit (see Note 6). Spars Capital is owned by a family trust affiliated with Elliot Bohm, the President of CardCash and a member of the Company’s Board of Directors.