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Note 3 - Related Party Transactions
12 Months Ended
Dec. 31, 2019
Notes  
Note 3 - Related Party Transactions

NOTE 3 – RELATED PARTY TRANSACTIONS

 

Jenifer Osterwalder, the Company's Chief Executive Officer

 

The Company’s CEO is to be paid 12,350 CHF per month for services related to the Company. Total amounts expended in the Company's consolidated financial statements in connection with the CEO's services was $148,888 and $149,933 for the years ended December 31, 2019 and 2018, respectively. As of December 31, 2019 and 2018, amounts due to the CEO related to accrued salaries were $766,653 and $617,765, respectively. Effective January 1, 2020, the CEO is to be paid $12,000 USD per month for services related to the Company.

 

From time to time due to the limited cash flow available, the Company's CEO pays certain operating expenditures on behalf of the Company. These advances bear no interest and are due on demand. As of December 31, 2019 and 2018, the Company's CEO was due $155,273 and $125,069 in connection with these advances, respectively.