DEBT

12 Months Ended

Dec. 31, 2022

DEBT

DEBT

NOTE 9 – DEBT

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

	December 31, 2022			December 31, 2021
Promissory note payable to First Security Bank of Missoula,  bearing 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	$	201,908		$	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		110,097			-
		312,005			215,150
Less current portion		(94,150	)		(13,230	)
Long term portion	$	217,855		$	201,920

At December 31, 2022, principal payments on debt are due as follows:

Twelve months ending December 31,	Principal payment
2023	$	94,150
2024		41,212
2025		13,071
2026		163,572
	$	312,005