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STOCK PAYABLE
6 Months Ended
Jun. 30, 2023
Stock Payable  
STOCK PAYABLE

NOTE 8 – STOCK PAYABLE

 

The Company’s related party settlement liability (Note 7) included the requirement to issue 5,000,000 shares of the Company’s common stock in order to cover litigation and legal expenses associated with the settlement agreement. The value of the shares at the settlement date was $0.01 resulting in a total value of $50,000. The Company issued 1,387,000 shares of common stock on November 5, 2020, at a value of $13,870. The balance due is $36,130 as of June 30, 2023 and December 31, 2022. In addition, the total balance as of June 30, 2023, includes a stock payable of $28,412 due to Phase I Operations, Inc. (Note 6). The shares for the $28,412 payable were issued by the transfer agent on August 3, 2023.