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Loans Payable	6 Months Ended
Jun. 30, 2025
Loans Payable
Loans Payable	Note 6. Loans Payable On June 23, 2021, the Company entered into a purchase agreement to acquire certain assets from MedScience (See Note 5 for additional information). As part of that purchase agreement, the Company issued a Promissory Note with a principal sum of $750,000. The principal, along with associated interest, were to be paid in 36 equal monthly installments that began in July 2021. The Promissory Note provides for various events of default similar to those provided for in similar transactions, including the failure to timely pay amounts due thereunder. In the event of a default, the interest rate on the outstanding principal would increase to a predetermined interest rate defined in the Promissory Note. The Company has deferred certain principal payments and MedScience has indicated that it would forbear taking any action but reserves all of its rights under its agreement. The most recent notice of forbearance was received on March 20, 2025. The combined principal due along with accrued interest as of June 30, 2025 is $451,828 and as of December 31, 2024 was $433,334, without giving effect to additional interest of $39,934 and $30,567, respectively, which MedScience may demand as a result of the failure to make payments on the due date provided in the Promissory Note. On August 12, 2024, the Company entered into a fixed-fee short-term loan with its merchant bank and received $88,555 in net loan proceeds after repaying the prior fixed-fee short term loan. The loan is repaid by the merchant bank withholding an agreed-upon percentage of payments they process on behalf of the Company with a minimum of $18,198 paid every 60 days. The loan payable, which was due in February 2026, was paid off during May 2025. The December 31, 2024 loan balance of $66,294 is all recorded in current liabilities on the condensed consolidated balance sheets.

Loans Payable

6 Months Ended

Jun. 30, 2025

Note 6. Loans Payable

On June 23, 2021, the Company entered into a purchase agreement to acquire certain assets from MedScience (See Note 5 for additional information). As part of that purchase agreement, the Company issued a Promissory Note with a principal sum of $750,000. The principal, along with associated interest, were to be paid in 36 equal monthly installments that began in July 2021.

The Promissory Note provides for various events of default similar to those provided for in similar transactions, including the failure to timely pay amounts due thereunder. In the event of a default, the interest rate on the outstanding principal would increase to a predetermined interest rate defined in the Promissory Note. The Company has deferred certain principal payments and MedScience has indicated that it would forbear taking any action but reserves all of its rights under its agreement. The most recent notice of forbearance was received on March 20, 2025. The combined principal due along with accrued interest as of June 30, 2025 is $451,828 and as of December 31, 2024 was $433,334, without giving effect to additional interest of $39,934 and $30,567, respectively, which MedScience may demand as a result of the failure to make payments on the due date provided in the Promissory Note.

On August 12, 2024, the Company entered into a fixed-fee short-term loan with its merchant bank and received $88,555 in net loan proceeds after repaying the prior fixed-fee short term loan. The loan is repaid by the merchant bank withholding an agreed-upon percentage of payments they process on behalf of the Company with a minimum of $18,198 paid every 60 days. The loan payable, which was due in February 2026, was paid off during May 2025. The December 31, 2024 loan balance of $66,294 is all recorded in current liabilities on the condensed consolidated balance sheets.