Notes Payable

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Notes Payable

Note 7. Notes Payable

On August 25, 2021, the Company completed the purchase of real property located in Chandler, Arizona (the “Property”) for $10,800,000 paid with cash and proceeds from a mortgage loan from Arizona Bank & Trust in the amount of $8,600,000. The loan terms include interest to be accrued at a fixed rate of 3% per year, 119 regular monthly payments of $40,978, and one irregular payment of $5,956,538 due on the maturity date of August 23, 2031. The Company began making monthly payments on September 23, 2021. The payment and performance of the loan is secured by a security interest in the property acquired.

	September 30, 2024		December 31, 2023
Short-term liabilities
Notes payable, principal		219,896		222,320
Accrued interest to date		10,928		4,035
Notes Payable, short-term		230,824		226,355
Long-term liabilities
Notes payable, principal		7,629,800		7,813,021
Notes payable, long term		7,629,800		7,813,021