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Federal Relief Loans
6 Months Ended
Jun. 30, 2025
Federal Relief Loans [Abstract]  
FEDERAL RELIEF LOANS
6FEDERAL RELIEF LOANS

 

Small Business Administration Disaster Relief loan

 

On July 7, 2020, the Company received a Small Business Economic Injury Disaster loan amounting to $150,000, bearing interest at 3.75% per annum and repayable in monthly installments of $731 commencing twelve months after inception with the balance of interest and principal repayable on July 7, 2050. The loan is secured by all tangible and intangible assets of the Company. The proceeds are to be used for working capital purposes to alleviate economic injury caused by the COVID-19 pandemic.

 

The company has accrued interest of $9,810 and $8,869 on this loan as of June 30, 2025 and December 31, 2024, respectively.