XML 47 R36.htm IDEA: XBRL DOCUMENT v3.25.2
Notes Payable, Related Parties (Tables)
 6 Months Ended
Jun. 30, 2025
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Notes Payable Related Parties

Notes payable consists of the following as of June 30, 2025, and December 31, 2024:

  

   June 30,   December 31, 
   2025   2024 
On May 22, 2023, the Company entered into an equipment purchase agreement with EnWave for the purchase of a used 100kW Rev vacuum microwave dehydration machine (the “EnWave Machine”). Cash payments of $500,000 were paid towards the $1,000,000 purchase price on the EnWave Machine, while the $500,000 balance due is to be paid in twelve (12) monthly installments of $44,424, bearing interest 12% per annum, commencing August 1, 2024.  $38,730   $251,647 
           
On May 17, 2020, the Company entered into a loan agreement with the United States Small Business Administration (the “SBA”), as lender, pursuant to the SBA’s Economic Injury Disaster Loan (“EIDL”) assistance program in light of the impact of the COVID-19 pandemic on the Company’s business (the “EIDL Loan Agreement”) encompassing a $34,500 Promissory Note issued to the SBA (the “EIDL Note”) (together with the EIDL Loan Agreement, the “EIDL Loan”), bearing interest at 3.75% per annum. In connection with entering into the EIDL Loan, the Company also executed a security agreement, dated May 17, 2020, between the SBA and the Company pursuant to which the EIDL Loan is secured by a security interest on all of the Company’s assets. Under the EIDL Note, the Company is required to pay principal and interest payments of $169 every month beginning May 17, 2021; however, the SBA extended the repayment date to November 17, 2022. All remaining principal and accrued interest is due and payable on May 17, 2050. The EIDL Note may be repaid at any time without penalty.   34,500    34,500 
           
Total notes payable  $73,230   $286,147 
Less: current maturities   38,730    251,647 
Notes payable, less current maturities  $34,500   $34,500 
Schedule of Recognized Interest Expense

The Company recognized aggregate interest expense for the six months ended June 30, 2025, and 2024 respectively, as follows:

  

   June 30,   June 30, 
   2025   2024 
Interest on convertible notes payable, related parties  $208,996   $- 
Amortization of debt discounts on related party convertible notes   25,808    - 
Amortization of debt discounts on related party convertible notes, warrants   7,211    - 
Interest on notes payable   9,972    903 
Interest on notes payable, related parties   197,577    54,630 
Amortization of debt discounts on related party notes   -    71,718 
Amortization of debt discounts on related party notes, warrants   -    20,450 
Amended warrant   32,099    - 
Interest on credit cards   661    - 
Interest on first credit position financing   22,389    - 
Total interest expense  $504,713   $147,701 
Related Party [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Notes Payable Related Parties

Notes payable, related parties, consists of the following as of June 30, 2025 and December 31, 2024:

  

   June 30,   December 31, 
   2025   2024 
         
Total Kaufman Note  $875,000   $1,200,000 
Total Senior Notes held by Eagle Vision   1,250,000    1,560,000 
Total notes payable, related parties   2,125,000    2,760,000 
Less: current maturities   2,125,000    2,760,000 
Notes payable, related parties, less current maturities  $-   $-