XML 26 R15.htm IDEA: XBRL DOCUMENT v3.22.1
COMMITMENTS AND CONTINGENCIES
12 Months Ended
Dec. 31, 2021
COMMITMENTS AND CONTINGENCIES  
NOTE 9 - COMMITMENTS AND CONTINGENCIES

NOTE 9 – COMMITMENTS AND CONTINGENCIES

 

On February 23, 2022, we and our Chief Executive Officer were provided with a Complaint in the Superior Court for Sacramento, California alleging negligence and premises liability by over 100 persons and entities, including the Company. The Complaint was never properly served upon the Company. The matter is in its early stages with no discovery schedule or trial date set. The complaint has no merit and we intend to vigorously defend the matter notwithstanding that no determination of the likelihood of loss has been determined.

 

The Company from time to time is party to certain lawsuits, legal proceedings and various claims relating to matters in the normal course of its business.

 

On January 1, 2018, the Company entered into an employment agreement with the CEO. Under the terms of the employment agreement, the Company was to pay the CEO a salary at a rate of $180,000 for the 2018 calendar year, $300,000 for the 2019 calendar year, and $500,000 for the 2020 calendar year. On December 31, 2019, the CEO’s salary was reduced to $180,000 per year, effective January 1, 2020 and the aggregate of previously accrued wages were reduced to $50,000 in total. In addition, the CEO was initially eligible to receive stock options for the right to purchase up to 150,000,000 shares of the Company’s common stock. During 2019, the Company and the CEO mutually agreed to cancel the 150,000,000 options.