NOTE 8. RELATED PARTIES

6 Months Ended

Jun. 30, 2021

Notes

NOTE 8. RELATED PARTIES

NOTE 8.  RELATED PARTIES

During the first quarter, Mr. Pursglove received three (3) shares of Series B Preferred stock valued at $43,950. The fair value of these shares were estimated based on a third-party valuation report and were issued to maintain voting control.

On May 8, 2019, the Company issued a short-term convertible note payable for $54,000 to a member of the Board of Directors. The note had a sixty-day term which was due on July 8, 2019 and bears interest at a rate of 15% per annum. The principal amount due of $54,000 was paid on May 26, 2021.