Company: LRHC
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001213900-25-078012
Chunk: 34

Company: La Rosa Holdings Corp.
Filing Date: 2025-08-18
Form: 10-Q
Item: Item 1
Chunk 34
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-months ended June 30, 2024, respectively.

Notes Payable-Promissory Note

On September 27, 2024, the Company entered into
a promissory note payable whereby the Company borrowed $200,000 bearing interest at 12.5% per annum. The note was payable in three-monthly
installments of $75,000. The proceeds of the note were used to pay down the senior secured promissory note entered into in February 2024.
The remaining balance on the note as of December 31, 2024 was $148,725. This note was fully repaid in February 2025. The interest expense
incurred for the promissory note was $1,276 during the first quarter of 2025.

Acquisition Settlement Agreement

In October 2024, the Company entered into an
acquisition settlement agreement with the former owner of an acquired business. Under the terms of the agreement, the Company agreed
to pay $1.0 million in equal installments of $11,905 per month over seven years, beginning November 1, 2024.

Economic Injury Disaster Loans

During 2024, the Company acquired franchises
that had outstanding Economic Injury Disaster Loans (the “EIDL Loans”) in the aggregate of $147,100. The Company acquired
the EIDL Loans which have terms similar to the Company’s existing EIDL loans. The EIDL Loans mature in 2050 and bear interest at
a rate of 3.75% per annum. The interest expense incurred for the EIDL loans were $6,228 and $13,170 for the three-months and six-months
ended June 30, 2025 and 2024, respectively.

Future maturities of EIDL term debt as of June 30, 2025, were as follows:

    June 30, 
  
    Economic Injury Disaster Loans-Future Maturities 
    2025 
  
    2025 - remainder of the year 
    $2,950 
  
    2026 
     5,900 
  
    2027 
     5,900 
  
    2028 
     5,900 
  
    2029 
     5,900 
  
    2030 
     5,900 
  
    Thereafter 
     611,882 
  
    Total 
    $644,332 

Total Notes Payable