RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2022

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 8 – RELATED PARTY TRANSACTIONS

During the three month period ended March 31, 2022, the Company has had extensive dealings with related parties including the following:

See additional related party transactions below.

During the three month period ended March 31, 2021, the Company has had extensive dealings with related parties including the following:

The Company issued 8,734,640 shares of restricted common stock to a related party to settle $20,302 of accrued interest owed on sixteen convertible notes payable.

Additional related party transactions:

The Company has an informal consulting agreement with a limited liability company that is owned and controlled by a person who is related to its CEO to provide general business consulting services including periodically assessing the Company’s business and advising management with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions, perform period background research including background checks and provide investigative information on individuals and companies and to assist, when needed, as an administrative specialist to perform various administrative duties and clerical services including reviewing the Company’s agreements and books and records. The consultant provides the services under the direction and supervision of the Company’s CEO. During the three month periods ended March 31, 2022 and 2021, the Company paid the related party limited liability company consulting fees of $11,000 and $3,000, respectively, for services rendered. These fees are recorded as an expense in consulting and contractor expenses in the accompanying consolidated statements of operations.

The Company has an ongoing agreement with a limited liability company that is owned and controlled by a person who is related to the Company’s CEO to provide stock transfer agency services. During the three month periods ended March 31, 2022 and 2021 the Company paid the related party limited liability company fees of $4,700 and $5,375, respectively, for services rendered. These fees are recorded as an expense in consulting and contractor expenses in the accompanying consolidated statements of operations.

During the three month periods ended March 31, 2022 and 2021, the Company paid a related party consultant fees of $9,000 and $10,000, respectively for consulting services for social media. All of the fees paid to the related party consultant are recorded as an expense in consulting and contractor expenses in the accompanying consolidated statements of operations.

Shareholder Loan

At March 31, 2022 and December 31, 2021, the Company had the following four loans outstanding to its CEO in the aggregate amount of $7,900:

- A loan with no due date with a $1,500 remaining balance and an interest rate of 2% and a conversion rate of $0.0005;

- A loan due on October 26, 2021 with a remaining balance of $4,000 and an interest rate of 1%;

- A loan due on January 22, 2022 with a remaining balance of $1,400 and an interest rate of 1%; and

- A loan due on January 26, 2022 with a remaining balance of $1,000 and an interest rate of 1%.

At March 31, 2022, the following promissory notes and shareholder loans were outstanding to related parties:

See Note 6 convertible notes payable – related parties, convertible notes payable – related parties, in default, and notes payable - related parties, in default.