Related Party Transactions

6 Months Ended

Jun. 30, 2021

Related Party Transactions

9. Related Party Transactions

9.

Related Party Transactions

The Company’s previous President and Chairman rented equipment to the Company and charged the Company for lodging and meals provided to consultants, customers and other parties by an entity that he owned. The amount due to his estate as of June 30, 2021 and December 31, 2020 was $0 and $171,017. During the six months ended June 30, 2021, the Company paid off the full amount of $171,017 to his estate for reimbursement of these expenses. During 2019, the Company’s previous President and Chairman advanced funds to the Company that had a balance at December 31, 2020 of $56,215. During the six month period ended June 30, 2021, the Company paid First Security Bank on behalf of the Company’s previous President and Chairman $56,215. The balance of the advances due to him at June 30 ,2021 is $0. The Interim Chief Executive Officer of the Company has an advance due from the Company of $200 at December 31, 2020. During the six month period ended June 30, 2021, the Company paid $200 to him as reimbursement on these advances. During the six months ended June 30, 2021, the Interim President of the Company incurred expenses of $16,994 for which he has not yet been reimbursed that are included in payables to related party on the consolidated balance sheet at June 30, 2021.