| ACCOUNTS PAYABLES AND ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES |
NOTE
6 – ACCOUNTS PAYABLES AND ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
On
June 30, 2023, there was $200,500 in accounts payable to related parties in the form of payroll and accrued expenses and $5,700 in un-issued
shares liability related party. On December 31, 2022 there was $709,727 in accounts payable to related parties and $38,400 in un-issued
shares liability related party.
The
following table represents the major components of accounts payables and accrued expenses and other current liabilities at June 30, 2023
and at December 31, 2022:
SCHEDULE
OF ACCOUNTS PAYABLES AND ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
| | |
June 30, 2023 | | |
December 31, 2022 | |
| Accounts payable related party (1) | |
$ | 200,500 | | |
$ | 709,727 | |
| Professional fees | |
| 315,502 | | |
| 393,085 | |
| Interest | |
| 181,548 | | |
| 134,581 | |
| Payroll taxes | |
| 15,941 | | |
| 40,182 | |
| Pension/401K | |
| 48,125 | | |
| 180,557 | |
| Other | |
| 1,546 | | |
| 990 | |
| Un-issued share liability, related party (2) | |
| 5,700 | | |
| 38,400 | |
| Un-issued share liability, consultant | |
| 380 | | |
| 960 | |
| Convertible note payable | |
| 2,000,000 | | |
| 2,165,000 | |
| Total | |
$ | 2,769,242 | | |
$ | 3,663,482 | |
| (1) |
$71,000
to the CEO, $70,000 to the CFO and $54,500 and the CCO for two months of salary and expenses, there are also $5,000 owed to an affiliate.
At December 31, 2022 there were $286,900 to the CEO, $269,400 to the CFO and $153,427 and the CCO in salary and expenses. |
| (2) |
There
are currently 30,000 shares of Common Stock awarded but not issued to three Board Members in the first quarter of 2023. The total
fair market value at the time of the award was $5,700 |
|
NOTE
6 – ACCOUNTS PAYABLES AND ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
On
December 31, 2022, there was $709,727 in Accounts Payables to related parties in form of payroll and advanced expenses. On December 31,
2021 there was $531,000 in Accounts Payables to related parties.
The
following table represents the major components of accounts payables and accrued expenses and other current liabilities at December 31,
2022 and 2021:
SCHEDULE
OF ACCOUNTS PAYABLES AND ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
| | |
December 31, 2022 | | |
December 31, 2021 | |
| Accounts payable related party (1) | |
$ | 709,727 | | |
$ | 531,000 | |
| Professional fees | |
| 393,085 | | |
| 375,371 | |
| Interest | |
| 134,581 | | |
| 85,685 | |
| Payroll taxes | |
| 40,182 | | |
| 32,010 | |
| Pension/401K | |
| 180,557 | | |
| 131,250 | |
| Other accounts payable | |
| 990 | | |
| — | |
| Un-issued shares related party | |
| 38,400 | | |
| — | |
| Un-issued shares | |
| 960 | | |
| — | |
| Convertible note payable | |
| 2,165,000 | | |
| 2,122,181 | |
| Total | |
$ | 3,663,482 | | |
$ | 3,277,497 | |
| (1) |
$286,900 to the CEO, 269,400 to the CFO and $153,427
and the CCO for 8 months of salary for the period May through December 2022, while there was $210,000 to each the CFO and the CEO
at and $111,000 for the CCO at December 31, 2021. All earlier accrued salaries due were forfeited on August 1, 2022. |
|