LONG-TERM DEBT

12 Months Ended

Dec. 31, 2025

LONG-TERM DEBT.

LONG-TERM DEBT

9.   LONG-TERM DEBT

Long-term debt consists of the following:

	December 31,
	2025		2024
Loan from American First National Bank. Maturity date is April 10, 2028. The loan, in the original amount of $4,209,608, provided funding for the expansion of the warehouse, additional office space, and a new controlled environment. The loan is secured by the Company’s land and buildings. The interest rate is equal to prime rate plus 0.25%, not to be less than 5.0%. The interest rate was 7.00% at December 31, 2025.	$	895,645	$	1,232,522
Less: current portion		(365,277)		(332,480)
	$	530,368	$	900,042

The fair value of long-term liabilities, based on Management’s estimates, approximates their reported values.

The aggregate maturities of long-term debt as of December 31, 2025, are as follows:

2026		367,193
2027		394,118
2028		134,334
	$	895,645