Company: LRHC
Filing Date: 2025-05-29
Form Type: 10-Q
Source: 0001213900-25-048370
Chunk: 105

Company: La Rosa Holdings Corp.
Filing Date: 2025-05-29
Form: 10-Q
Item: Item 8
Chunk 105
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725. This note was fully repaid in February 2025. The interest expense incurred for the promissory
note was $1,276 and $0 for the three months ended March 31, 2025 and 2024, respectively.

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 $1,412 and $3,259 for the three months ended March 31, 2025 and
2024, respectively.

Future maturities of EIDL term debt as of March 31, 2025, were as follows:

    March  31, 
  
    Economic Injury Disaster Loans-Future Maturities 
    2025 
  
    2025 
    $5,900 
  
    2026 
     5,900 
  
    2027 
     5,900 
  
    2028 
     5,900 
  
    2029 
     5,900 
  
    2030 
     5,900 
  
    Thereafter  
     610,506 
  
    Total
 
    $645,906 

Total Notes Payable as of March 31, 2025 and December 31, 2024 were
as follows:

    March 31,  
    December 31, 
  
    Notes Payable 
    2025  
    2024 
  
    Senior secured promissory note (SSPN) #1 
    $-  
    $106,192 
  
    Senior secured promissory note #2 
     -  
     1,316,000 
  
    Senior secured promissory note #3 
     -