Note 12 - Loans Payable

9 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Short-Term Debt [Text Block]

Note 12 – Loans Payable

In August 2025, we entered into an insurance premium financing and security agreement with AFCO Direct. Under the agreement, we financed $0.2 million of certain premiums at a 7.97% fixed annual interest rate. Payments of approximately $37,000 are due monthly from August 2025 through December 2025. As of September 30, 2025, the outstanding principal of the loan was $0.1 million. 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 December 31, 2024, the outstanding principal of the loan was $0.3 million. The balance of the loan was repaid during the second quarter of 2025.