Notes Payable Related Parties

9 Months Ended

Sep. 30, 2025

Notes Payable Related Parties

Notes Payable, Related Parties

Note 7 – Notes Payable, Related Parties

Notes payable, related parties consist of the following at September 30, 2025 and December 31, 2024, respectively:

	September 30, 2025		December 31, 2024
On April 12, 2010, the Company received an unsecured, non-interest-bearing loan in the amount of $2,000, due on demand from Robert Leitzman. Interest is being imputed at the Company’s estimated borrowing rate, or 10% per annum. The largest aggregate amount outstanding was $2,000 during the periods ended December 31, 2019 and December 31, 2018. Mr. Leitzman owns less than 1% of the Company’s common stock, however, the Mr. Leitzman is deemed to be a related party given the non-interest-bearing nature of the loan and the materiality of the debt at the time of origination.	$	2,000	$	2,000
Over various dates in 2011 and 2012, the Company received unsecured loans in the aggregate amount of $10,000, due on demand, bearing interest at 10%, from Sandra Orman. The largest aggregate amount outstanding was $10,000 during the periods ended December 31, 2019 and December 31, 2018. Mrs. Orman owns less than 1% of the Company’s common stock, however, Mrs. Orman is deemed to be a related party given the nature of the loan and the materiality of the debt at the time of origination.	$	10,000	$	10,000
On various dates in 2024 and 2025, the company received the aggregate amount of $305,000 and $45,000 of advances, bearing interest at 5% and 12%, from Glenn Martin. Payments of $130,000 were made to Mr. Martin in January 2025.	$	220,000	$	305,000
On May 2, 2022, the company acquired Hempirical Genetics, LLC with a note payable to the executive officer Jeffrey Miller with no interest. Payments of $10,000 and $60,000 were made toward the note in 2024 and 2023, respectively.	$	120,000	$	120,000

	September 30, 2025		December 31, 2024
Notes payable, related parties	$	354,000	$	437,000
Less: Loan fee, net of amortization	$	5,982	$	13,672
Notes payable, related parties	$	348,018	$	423,328

The Company recorded interest expense in the amount of $18,689 and $1,858 for the nine months ended September 30, 2025 and 2024, respectively, including imputed interest expense in the amount of $11,263 and $900 during such periods related to notes payable, related parties.