RELATED PARTY TRANSACTIONS |
3 Months Ended |
|---|---|
Mar. 31, 2024 | |
| RELATED PARTY TRANSACTIONS | |
| RELATED PARTY TRANSACTIONS | 8. RELATED PARTY TRANSACTIONS
Notes payable – related party
During the three months ended March 31, 2024 and 2023, the Company repaid notes payable to a related party of $0 and $0 and recognized interest of $49 and $84, respectively.
During the three months ended March 31, 2024, the Company issued 150,000 shares of Series B preferred stock to settle note payable of $860 and accrued interest of $640.
As of March 31, 2024 and December 31, 2023, the Company recorded notes payable - related party of $4,284 and $5,144 and accrued interest of $728 and $1,320, respectively. The note is a 4% interest bearing promissory note that the term is 1 year.
Employee agreements
During the year ended December 31, 2022, the Company accrued salary related to employment agreement in 2022 of $133,334. As of March 31, 2024 and December 31, 2023, the Company owes a salary of $300,000. |