NOTE PAYABLE

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

NOTE PAYABLE

5. NOTE PAYABLE

On May 20, 2024, the Company entered into a one-year Directors and Officers Liability Insurance agreement for $102,915. Under the terms of the agreement, the Company made a down payment of $21,000, with the remaining balance financed over the following ten months at an annual percentage rate of 7.99%. Beginning September 2024, the Company will make 10 monthly payments of $8,494, with the last payment expected to be made in March 2025. At the end of September 30, 2024, the outstanding balance on the note payable was $57,597.