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OTHER RELATED PARTY TRANSACTIONS
3 Months Ended
Mar. 31, 2024
Related Party Transactions [Abstract]  
OTHER RELATED PARTY TRANSACTIONS

NOTE 12 – OTHER RELATED PARTY TRANSACTIONS

   

Name of Related Party   Related Relationship
John D. Murphy Jr.   Principal Executive Officer of the Company, member of the Board of Directors, and Managing Member of JMJ Associates, LLC
Paul Strickland   Secretary of the Company, member of the Board of Directors, and Managing Member of Beartooth Asset Holdings, LLC.
Selkirk Global Holdings, LLC   Entity owned by Paul Strickland, the Company’s Secretary, and a member of its Board of Directors.
Green Horseshoe, LLC   Significant shareholder
Bruce Bent   Significant shareholder
OC Sparkle Inc.   Significant shareholder
Alpha Strategies Trading Software, Inc.   Significant debt holder

 

 

Manager Promissory Note 

 

On February 1, 2022, the Company and its Board of Directors approved an 8% Manager Promissory Note for up to $300,000 from JMJ Associates, LLC, an entity controlled by John D. Murphy, Jr., the Company’s Chief Executive Officer and President and member of the Board of Directors. JMJ Associates, LLC has not yet made any loans to the Company.

 

Loans and Cash Advances

 

John D. Murphy, Jr., has at times directly paid for various company expenses. The amount was unsecured, non-interest bearing, and due on demand. On December 5, 2023, the Company issued a Convertible Exchange Note to John Murphy, for the amount due of $144,501.

 

Imputed interest is assessed as an expense to the business operations and an addition to paid in capital. The imputed interest rate is 8%. During the three months ended March 31, 2024 and 2023 the imputed interest was $0 and $2,945, respectively.