RELATED PARTY TRANSACTIONS

3 Months Ended

Dec. 31, 2021

RELATED PARTY TRANSACTIONS

NOTE 5 - RELATED PARTY TRANSACTIONS

NOTE 5 - RELATED PARTY TRANSACTIONS

Related Party agreements and fees

For the three months ended December 31, 2021, and 2020, the Company recorded expenses to related parties in the following amounts:

	Three months ended December 31,
	2021		2020
Management fees, Chief Executive Officer (CEO)	$	145,000	$	36,000
Chief Technology Officer (CTO)		145,000		36,000
Chief Administration Officer (CAO)		120,000		30,000
Stock based compensation expense		39,063		39,063
Office rent and expenses		16,219		8,334
Total	$	465,282	$	149,397

Effective June 1, 2021, the Company increased the monthly fee paid to its’ CEO and CTO, from $12,000 to $15,000, respectively. For the three months ended December 31, 2021, and 2020, the company recorded expenses of $45,000 and $36,000, respectively, each for the CEO and CTO. Of the CEO expenses, $30,000 is included in accounts payable, related parties on the balance sheet included herein. The Company also recorded bonus expenses of $100,000, $100,000 and $90,000 for the CEO, CTO and CAO, respectively. The CEO’s bonus is included in accounts payable, related party on the balance sheet included herein. For the three months ended December 31, 2021, and 2020, the Company expensed $30,000 and $30,000 to its CAO, respectively. Amortization of stock-based compensation expense of $39,063 was recorded for the three months ended December 31, 2021, and 2020, respectively.

On October 25, 2020, the Company entered into a sublease with its CTO, whereby the Company agreed to an annual lease payment of $50,000. For the three months ended December 31, 2021, and 2020, the Company expensed $4,163 and $8,334, respectively, to rent expense pursuant to this sublease. On June 1, 2021, agreed to pay an additional $3,500 per month to the CTO for additional space, and for the three months ended December 31, 2021, $10,500 is included in rent expense.

Accounts payable, related parties

As of December 31, 2021, and September 30, 2021, the Company owes $141,233 and $12,551, respectively to related parties as follows:

	December 31, 2021		September 30, 2021
Management fees, Chief Executive Officer (CEO)	$	30,000	$	-
Bonus, CEO		100,000		-
Accounts payable, CTO		11,233		12,551
Total	$	141,233	$	12,551

Common Stock

As of September 30, 2020, included in capital stock to be issued was $432,000 due to related parties. The amount owed was pursuant to expenses for public relations and office rent and expenses to entities controlled by the Company’s CEO, were all accrued (non-cash), during the year ended September 30, 2020. The amounts owed were recorded as expenses with the offset to the liability account stock to be issued. On November 12, 2020, the Company issued 17,280,000 shares of restricted common stock for the $432,000 in capital stock to be issued.