Note 3 – Note Payable

On November 8, 2021, the Company entered into a short-term note payable for an aggregate of $425,990, bearing interest at 3.3% per year to finance certain insurance policies. Principal and interest payments related to the note will be repaid over a 11-month period with the final payment due on September 30, 2022. As of December 31, 2021, the Company’s note payable balance was $387,794.

During the year ended December 31, 2020, the Company entered into a short-term note payable for an aggregate of $482,375, bearing interest at 4.25% per year to finance certain insurance policies. Principal and interest payments related to the note will be repaid over a 11-month period with the final payment due on September 30, 2021. As of December 31, 2020, the Company’s note payable balance was $439,294. During the year ended December 31, 2021, the Company repaid the full balance of the note.