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LOAN AGREEMENT
 6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
LOAN AGREEMENT

NOTE 4 – LOAN AGREEMENT

 

On June 30, 2024, the Company entered into a Loan Agreement (the “Loan Agreement”) with Solterra Renewable Energy Ltd. (“Solterra”) and certain other lenders (collectively, the “Lenders”) pursuant to which the Lenders committed to loan Solterra the aggregate principal amount of € 500,000 (approximately $541,541) (€ 375,000 (approximately $406,156) of which was committed by the Company) with interest accruing on the principal at the rate of 7% per annum, to be paid annually beginning June 30, 2025. On July 8, 2024, the Company paid €375,000 (approximately $406,156) see also note 9 below.