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Note 10 - Loans Payable
3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Short-Term Debt [Text Block]

Note 10 – Loans Payable

 

In August 2024, we entered into an insurance premium financing and security agreement with IPFS Corporation. Under the agreement, we financed $0.5 million of certain premiums at a 7.94% fixed annual interest rate. Payments of approximately $56,000 are due monthly from August 2024 through May 2025. As of March 31, 2025, the outstanding principal of the loan was $0.2 million.

 

In June 2023, we entered into an insurance premium financing and security agreement with IPFS Corporation. Under the agreement, we financed $0.8 million of certain premiums at a 7.24% fixed annual interest rate. Payments of approximately $77,000 were due monthly from July 2023 through April 2024. As of December 31, 2023, the outstanding principal of the loan was $0.2 million.  The balance of the loan was repaid during the first quarter of 2024.