DEBT

9 Months Ended

Sep. 30, 2023

DEBT

DEBT

NOTE 7 – DEBT

Long term debt at September 30, 2023 and December 31, 2022 was as follows:

	September 30, 2023			December 31, 2022
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	$	192,589		$	201,908
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		49,367			110,097
Total debt	$	241,956		$	312,005
Less current portion of debt		(62,064	)		(94,150	)
Long term portion of debt	$	179,892		$	217,855

At September 30, 2023, principal payments on debt were due as follows:

Twelve months ending September 30,	Principal payment
2024	$	62,064
2025	$	12,998
2026	$	13,293
2027	$	153,601
	$	241,956