DEBT

9 Months Ended

Sep. 30, 2022

DEBT

9. DEBT

NOTE 9 – DEBT

Long term debt at September 30, 2022 and December 31, 2021 is as follows:

	September 30, 2022			December 31, 2021
Promissory note payable to First Security Bank of Missoula, earing interest at 2.25%, payable in 59 monthly installments of $1,409 with a final payment of $152,726 maturing November 9, 2026; collateralized by a lien on Certificate of Deposit	$	204,992		$	215,150
Installment contract payable to Caterpillar Financial Services, bearing interest at 6.65%, payable in 24 monthly installments of $7,210 maturing April 28, 2024; collateralized by 2007 Caterpillar 740 articulated truck		129,678			-
		334,670			215,150
Less current portion		(92,738	)		(13,230	)
Long term portion	$	241,932		$	201,920

At September 30, 2022, principal payments on debt are due as follows:

Twelve months ending September 30,	Principal payment
2023	$	92,738
2024		62,065
2025		12,998
2026		13,294
2027		153,575
	$	334,670