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DEBT

3 Months Ended

Mar. 31, 2026

NOTE 13 — DEBT

The following table summarizes the details of the Company’s long-term debt obligations:


		Outstanding Balance
		March 31,		December 31,
		2026		2025
Consumer
Note payable, FSB ⁽¹⁾		$	2,313,856	$	2,342,485
Note payable, Truist Bank ⁽³⁾			752,424		762,430
Notes payable, TBT ⁽⁴⁾			1,468,088		1,486,229
Note payable, Scottsdale Transaction ⁽⁵⁾			12,500		18,750

Sub-total			4,546,868		4,609,894

Commercial
Note payable, FSB ⁽²⁾			5,249,785		5,314,741

Sub-total			5,249,785		5,314,741

Corporate
Line of credit, FSB ⁽⁶⁾			—		—

Sub-total			—		—

Total			9,796,653		9,924,635

Less: current portion			(7,688,363)		(7,787,468)

		$	2,108,290	$	2,137,167

(1)	On November 23, 2021, the consumer segment entered into a $2.781 million secured amortizing note payable with Farmer’s State Bank of Oakley, Kansas (“FSB”). The note payable bears interest at 3.10% and matures on November 15, 2026.

(2)	On November 23, 2021, the commercial segment entered into a $6.309 million secured amortizing note payable with FSB. The note payable bears interest at 3.10% and matures on November 15, 2026.

(3)	On July 9, 2020, the consumer segment entered into a $956 thousand secured amortizing note payable with Truist Bank. The note payable bears interest at 3.65% and matures on July 9, 2030.

(4)	On July 30, 2021, the consumer segment entered into a $1.772 million secured amortizing note payable with Texas Bank and Trust (“TBT”). The note payable bears interest at 3.75% and matures on July 30, 2031.

(5)

On September 12, 2024, the consumer segment entered into a $50 thousand secured amortizing note payable in relation to the Scottsdale Transaction. The repayment of the note payable shall begin upon the fulfillment of certain terms and conditions under the asset purchase agreement entered into on September 12, 2024. The note payable’s imputed interest is 3.10% and matures on September 30, 2026.

(6)	On November 8, 2024, the Company entered into a $3.800 million secured line of credit with FSB. The line of credit bears interest at our rate of deposit +1.00% with a floor of 3.10% and matures on November 23, 2027.

The following table depicts the Company’s future principal payments on long-term debt obligations as of March 31, 2026:


	2026			2027			2028			2029			2030			Thereafter
Consumer
Note payable, FSB ⁽¹⁾		2,313,856			-			-			-			-			-
Note payable, Truist Bank ⁽³⁾		30,197			41,716			43,216			44,913			592,381			-
Notes payable, TBT ⁽⁴⁾		53,156			74,325			77,019			80,099			83,154			1,100,336
Note payable, Scottsdale Transaction ⁽⁵⁾		12,500			-			-			-			-			-

Sub-total		2,409,709			116,041			120,235			125,012			675,535			1,100,336

Commercial
Note payable, FSB ⁽²⁾		5,249,785			—			—			—			—			—

Sub-total		5,249,785			—			—			—			—			—

Corporate
Line of credit, FSB ⁽⁶⁾		—			—			—			—			—			—

Sub-total		—			—			—			—			—			—

	$	7,659,494		$	116,041		$	120,235		$	125,012		$	675,535		$	1,100,336

The Company was in compliance with all of its debt obligation covenants for the three months ended March 31, 2026 and 2025.

The following table depicts the Company’s future scheduled aggregate principal payments and maturities as of March 31, 2026:


		Scheduled
		Principal			Loan
Scheduled Principal Payments and Maturities by Year		Payments			Maturities			Total

2026			348,183			7,311,311			7,659,494
2027			116,041			—			116,041
2028			120,235			—			120,235
2029			125,012			—			125,012
2030			110,183			565,352			675,535
Thereafter			65,531			1,034,805			1,100,336

		$	885,185		$	8,911,468		$	9,796,653