DEBT

12 Months Ended

Dec. 31, 2023

DEBT

DEBT

NOTE 8 – DEBT

Long term debt at December 31, 2023 and December 31, 2022 was as follows:

	At December 31,
	2023			2022
Promissory note payable to First Security Bank of Missoula, bearing interest at 2.25%, payable in 59 monthly installments of $1,409 with a final payment of $152,726 maturing November 9, 2026; collateralized by a lien on Certificate of Deposit	$	-		$	201,908
Installment contract payable to Caterpillar Financial Services, bearing interest at 6.65%, payable in 24 monthly installments of $7,210 maturing April 28, 2024; collateralized by 2007 Caterpillar 740 articulated truck		28,443			110,097
Total debt	$	28,443		$	312,005
Less current portion of debt		(28,443	)		(94,150	)
Long term portion of debt	$	-		$	217,855

The Company paid off the promissory note payable to First Security Bank in the fourth quarter of 2023 with no prepayment penalty. The principal payments owed Caterpillar Financial Services of $28,443 at December 31, 2023 will be due in 2024.