DEBT

12 Months Ended

Dec. 31, 2024

DEBT

DEBT

NOTE 9 – DEBT

Long term debt at December 31, 2024 and December 31, 2023 was as follows:

	December 31, 2024			December 31, 2023
Installment contract payable to Komatsu, bearing interest at 3.49%, payable in 36 monthly installments of $11,799 maturing May 2027; collateralized by the Wheel Loader	$	327,677		$	-
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		-			28,443
Total debt		327,677			28,443
Less current portion of debt		(132,252	)		(28,443	)
Long term portion of debt	$	195,425		$	-

At December 31, 2024, principal payments on debt were due as follows:

Twelve months ending December 31,	Principal Payment
2025	$	132,252
2026		136,942
2027		58,483
	$	327,677