Annual report [Section 13 and 15(d), not S-K Item 405]

Note 6 - Debt (Tables)

v3.25.1
Note 6 - Debt (Tables)
12 Months Ended
Dec. 31, 2024
Notes Tables  
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]
   

Agile Note

   

RP Note

 

Gross Proceeds

  $ 1,850,000     $ 1,500,000  

Fair Value at issuance date

    2,132,000       1,343,000  

Difference between proceeds and fair value at issuance(2)

    282,000       157,000  

Note balance – December 31, 2024

    1,454,000       1,500,000  

Fair value – December 31, 2024

    1,679,000       1,438,000  

Interest paid during the period

    167,000       -  

Accrued interest at period end

    28,000       71,000  

Change in fair value subsequent to issuance(2)

    (57,000 )     96,000  

Debt issue costs expensed immediately in the consolidated statements of operations(1)

    180,000       -  
Interest Rate (Discount rate used in present value calculation)     42 %     42 %