v3.25.3
Related Party Transactions
12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 10 – RELATED PARTY TRANSACTIONS

In support of the Company’s efforts and cash requirements, it must rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders. The advances are considered temporary in nature and have not been formalized by a promissory note. There were no advances from related parties during the years ended December 31, 2024 and 2023.

IHG, controlling shareholder of the Company, provides management consulting services to the Company. There is no formal written agreement that defines the compensation to be paid. For the years ended December 31, 2024 and 2023 the Company paid related party management fees to IHG of $112,694 and $128,000, respectively.

During the year ended December 31, 2024, the Company issued 17,000,000 shares of its common stock to officers/directors/advisors of the Company for services, valued at $18,500; of which 8,000,000 shares, valued at $3,200, was charged to operations during the year ended December 31, 2023; and issued 4,500,000 shares of its common stock for consulting services, valued at $7,650 ($0.0017 per share), to individuals related to the Chief Executive Officer of the Company.