RELATED PARTY

9 Months Ended

Sep. 30, 2020

Related Party Transactions [Abstract]

RELATED PARTY

NOTE 12 – RELATED PARTY

At September 30, 2020 the Company had a legal accrual to related party of $64,501, travel and office expense accruals of officers in the amount of $5,840 and accounting service fee accrual to a related party of $560. At December 31, 2019 the Company had a legal accrual to related party of $10,152 and travel and office expense accruals of officers in the amount of $4,653.

During July 2018, the Company issued a warrant to purchase 100,000 shares of common stock at a purchase price of $1.15 per share for professional services to be rendered over a twelve month period commencing July 1, 2018. The warrant was valued at $62,637, fair value upon issuance, using the Black-Scholes Option Pricing Formula. The expense is being recognized based on service terms of the agreement over a twelve month period. For the nine and three months ending September 30, 2019, the Company recognized $31,319 and $0 of expense.