LONG-TERM DEBT

3 Months Ended

Mar. 31, 2025

LONG-TERM DEBT

LONG-TERM DEBT

NOTE 8 – LONG-TERM DEBT

Long-term debt at March 31, 2025 and December 31, 2024 was as follows:

	March 31, 2025			December 31, 2024
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	$	295,045		$	327,677
Less current portion of debt		(133,409	)		(132,252	)
Long-term debt, net	$	161,636		$	195,425

At March 31, 2025, principal payments on debt were due as follows:

Twelve months ending March 31,	Total
2026	$	133,409
2027		126,444
2028		35,192
	$	295,045