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9. RELATED PARTY TRANSACTIONS
9 Months Ended
Sep. 30, 2018
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 9 – RELATED PARTY TRANSACTIONS

Included in our balance sheets at September 30, 2018 and December 31, 2017 are Related Party Receivables of $2,000 and $0, respectively.  We have a receivable of $2,000 at September 30, 2018 due from Viaspace California, Inc., which represents start-up costs for the new entity.

Also included in our balance sheets at September 30, 2018 and December 31, 2017 are Related Party Payables of $749,000 and $749,000, respectively. We have a payable of $689,000 and $689,000, at September 30, 2018 and December 31, 2017 owed to Dr. Carl Kukkonen, CTO. Of the amount owed to Dr. Kukkonen, there is a cash component totalling $185,000 and a common stock component totalling $504,000. Dr. Kukkonen deferred a portion of his 2009, 2010 and 2011 stock awards and is entitled to the following unregistered shares of our common stock at September 30, 2018: 11,195,707 shares for deferred 2009 compensation; 8,467,939 shares for deferred 2010 compensation; and 24,730,678 shares for deferred 2011 compensation. We also owe Director Haris Basit $60,000 at September 30, 2018, representing salary earned but not paid.  In addition, at September 30, 2018 there are Other Related Party Payables owed to Dr. Kukkonen, in the amount of $2,000, to Mr. Basit, in the amount of $18,000 and to Mr. Nicholas Stoll, in the amount of $9,000.

Also, Mr. Basit was granted 37,500,000 options at September 30, 2017, and 500,000,000 options at September 30, 2018.  During the nine months ended September 30 2018 the Company granted Dr. Kevin Schewe, Dr. Carl Kukkonen, Mr. Nick Stoll and Ms. Angelina Galiteva 350,000,000, 150,000,000, 100,000,000 and 10,000,000 options, respectively.  See Note 4 for valuations of the stock options.

We have a loan agreement with CEO Dr. Kevin Schewe, Director Haris Basit and CTO Carl Kukkonen which is described in Note 6.