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<br /> <br /> <br /> <br />NOTE F — LONG -TERM DEBT (Continued) <br /> <br /> <br />Maturities of long -term debt at December 31, 2023 are as follows: <br /> <br /> Year ending December 31 <br /> 2024 1,356,214 <br /> 2025 952,499 <br /> 2026 743,738 <br /> 2027 and thereafter 290,991 <br /> <br />NOTE G – RETIREMENT PLAN <br /> <br />The Company has a qualified profit -sharing plan with a 401(k) deferred compensation provision. Employees are eligible to participate in the plan <br />as long as they are at least 21 years of age and have completed one year of service. The plan also provides for matching contributions by the <br />Company generally equal to the lessor of 100% of the employee’s contribution or 4% of their compensation. Matching contributions to the plan <br />were $38,164 for the year ended December 31, 2023. The profit -sharing portion of the plan provides for elective contributions by the Company in <br />such amounts as management may determine. There were no elective contributions to the plan for the year ending December 31, 2 023. <br /> <br />NOTE H – RELATED-PARTY TRANSACTIONS <br />The Company pays rent for office and warehouse space in Mobile, Alabama and Houston, Texas to an LLC owned by shareholders of the Company. <br />The Company’s leases are month to month for the year ended December 31, 2023, and total lease payments for the year were $327,395. <br /> <br /> <br /> <br />NOTE I – SUBSEQUENT EVENTS <br />Management has evaluated subsequent events through May 1, 2024, the date on which the financial statement was available to be issued. <br /> <br /> <br /> <br /> <br /> <br /> 16