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Schedule of Future Amortization of Loans Payable (Details)
Mar. 31, 2025
USD ($)
2025 $ 56,697
2026 16,691
2027 12,024
2028 13,571
Thereafter 6,157
Total Note Payments 105,440
Current Portion of Loan Payable (59,298)
Non-Current Portion of Loan Payable 46,143
Mercedes Benz [Member]  
2025 5,584 [1]
2026 [1]
2027 [1]
2028 [1]
Thereafter [1]
Total Note Payments 5,584 [1]
Current Portion of Loan Payable (5,584) [1]
Non-Current Portion of Loan Payable [1]
Navitas 2021 BLU3 [Member]  
2025 21,432 [2]
2026 6,338 [2]
2027 [2]
2028 [2]
Thereafter [2]
Total Note Payments 27,770 [2]
Current Portion of Loan Payable (21,432) [2]
Non-Current Portion of Loan Payable 6,338 [2]
NFS SSI [Member]  
2025 4,555 [3]
2026 [3]
2027 [3]
2028 [3]
Thereafter [3]
Total Note Payments 4,555 [3]
Current Portion of Loan Payable (4,555) [3]
Non-Current Portion of Loan Payable [3]
Navitas 2022 BLU3 [Member]  
2025 17,941 [4]
2026 [4]
2027 [4]
2028 [4]
Thereafter [4]
Total Note Payments 17,941 [4]
Current Portion of Loan Payable (17,941) [4]
Non-Current Portion of Loan Payable [4]
Navitas 2024 BLU3 One [Member]  
2025 4,223 [5]
2026 6,243 [5]
2027 7,022 [5]
2028 7,899 [5]
Thereafter 1,409 [5]
Total Note Payments 26,796 [5]
Current Portion of Loan Payable (5,771) [5]
Non-Current Portion of Loan Payable 21,025 [5]
Navitas 2024 BTL [Member]  
2025 2,963 [6]
2026 4,411 [6]
2027 5,002 [6]
2028 5,672 [6]
Thereafter 4,747 [6]
Total Note Payments 22,794 [6]
Current Portion of Loan Payable (4,014) [6]
Non-Current Portion of Loan Payable $ 18,780 [6]
[1] On August 21, 2020, the Company executed an installment sales contract with Mercedes Benz Coconut Creek for the purchase of a 2019 Mercedes Benz Sprinter delivery van. The installment agreement is for $55,841 with a zero interest rate payable over 60 months with a monthly payment of $931 and is personally guaranteed by Mr. Carmichael. The loan balance as of March 31, 2024 was $17,063 and $19,855 as of December 31, 2023.
[2] On May 19, 2021, BLU3 executed an equipment finance agreement with Navitas Credit Corp. (“Navitas”) to finance the purchase of certain plastic molding equipment. The amount financed is $75,764 payable over 60 equal monthly installments of $1,611. The equipment finance agreement contains customary events of default. The loan balance as of March 31, 2024 was $38,492 and $42,525 as of December 31, 2023.
[3] On June 29, 2022, SSI executed an equipment financing agreement with NFS Leasing (“NFS Leasing”) to secure replacement production molds. The total purchase price of the molds was $84,500 of which $63,375 was financed by NFS Leasing on August 15, 2022. The financing agreement has a 33 month term beginning in August 2022 with a monthly payment of $2,571. The financing agreement contains customary events of default, is guaranteed by the Company and NFS Leasing has a lien on all of the assets of SSI. The loan balance as of March 31, 2024 and December 31, 2023 was $32,448 and $38,607, respectively.
[4] On December 12, 2022, BLU3 executed an equipment finance agreement to finance the purchase of certain plastic molding equipment through Navitas. The amount financed is $63,689 payable over 36 equal monthly installments of $2,083. The equipment finance agreement contains customary events of default. The loan balance as of March 31, 2024 was $41,273 and $44,839 as of December 31, 2023.
[5] On February 12, 2024, BLU3 executed an inventory finance agreement to finance the purchase of certain equipment stock through Navitas. The amount financed is $32,274 payable over 60 equal monthly installments of $715. The inventory finance agreement contains customary events of default. The loan balance as of March 31, 2024 was $31,476.
[6] On September 4, 2024, BLU3 executed an inventory finance agreement to finance the purchase of certain equipment stock through Navitas. The amount financed is $24,620 payable over 60 equal monthly installments of $602. The inventory finance agreement contains customary events of default. The loan balance as of September 30, 2024 was $23,722.