Idaho Strategic Resources, Inc. Debt Disclosure
6. Notes Payable
At December 31, 2024 and 2023, notes payable are as follows:
|
| 2024 |
|
| 2023 |
| ||
Mine Equipment Monthly payments of $55,803 and $98,752 as of December 31, 2024 and 2023, respectively |
| $ | 962,384 |
|
| $ | 1,859,299 |
|
Mill Equipment Monthly payments of $11,498 and $0 as of December 31, 2024 and 2023, respectively |
|
| 540,773 |
|
|
| - |
|
Buildings/Land Monthly payments of $2,500 and $2,500 as of December 31, 2024 and 2023, respectively |
|
| 229,582 |
|
|
| 297,230 |
|
Other Monthly payments of $0 and $731 as of December 31, 2024 and 2023, respectively |
|
| - |
|
|
| 160,123 |
|
Total notes payable |
|
| 1,732,739 |
|
|
| 2,316,652 |
|
Due within one year |
|
| 709,381 |
|
|
| 978,246 |
|
Due after one year |
| $ | 1,023,358 |
|
| $ | 1,338,406 |
|
All notes are collateralized by the property or equipment purchased in connection with each note. Future principal payments of notes payable at December 31, 2024 are as follows:
2025 |
| $ | 709,381 |
|
2026 |
|
| 485,852 |
|
2027 |
|
| 313,374 |
|
2028 |
|
| 124,118 |
|
2029 |
|
| 100,014 |
|
Total |
| $ | 1,732,739 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2024 | Mar 31, 2025 | Showing above |
| 2023 | Mar 25, 2024 | |
| 2022 | Mar 31, 2023 | |
| 2021 | Mar 31, 2022 | |
| 2020 | Mar 31, 2021 | |
About Debt Disclosures
Debt disclosures detail a company's borrowing structure — the types of instruments, interest rates, maturity schedule, and covenant restrictions that define its financial obligations and flexibility. This section is essential for assessing refinancing risk, interest rate exposure, and the margin of safety against financial distress.
Key signals: the maturity schedule reveals concentration risk — large maturities within 1-2 years during tight credit markets can force dilutive refinancing or asset sales. Compare the fair value of debt against carrying amount to gauge whether the market views the company's credit risk differently than the balance sheet suggests. Watch covenant compliance disclosures for tightening cushions, especially leverage and interest coverage ratios. Variable-rate debt exposure quantifies sensitivity to interest rate changes. Secured versus unsecured mix affects recovery rates and future borrowing capacity. Compare net debt-to-EBITDA against industry peers and covenant limits to assess financial health.