Related Party Transactions
|9 Months Ended|
Sep. 30, 2023
|Related Party Transactions [Abstract]|
|Related Party Transactions||
Note 8. Related Party Transactions
At September 30, 2023 and December 31, 2022 Company had a payable due to an officer in the amount of $153,838 for contract work performed prior to becoming an officer.
During September 2021, the Company’s former CEO and shareholder advanced $100,000 in cash to the Company for short term capital requirements. This amount is non-interest bearing and payable upon demand. The Company had balances of $75,717 and $100,000 included in shareholder advance on the Company’s consolidated balance sheet as of September 30, 2023 and December 31, 2022, respectively.
Between May 24, 2023 and August 30, 2023, the Company’s CFO advanced and aggregate $183,558 in cash to the Company for short term capital requirements. As of September 30, 2023, $160,085 of the advanced amounts have been repaid and the remaining balance of $23,473 is included in accounts payable – related party on the Company’s consolidated Balance sheet.
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef