RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2023

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 10 – RELATED PARTY TRANSACTIONS

In September of 2021, we began paying $10,000 per month to Silvestre Law Group, P.C. (“SLG”), our outside corporate counsel, for our SEC compliance legal work (“Monthly Fee”). Mr. Silvestre, our CEO since August 16, 2021, is a principal of SLG. Additionally, SLG bills us at their standard rates for additional services outside of the scope of the Monthly Fee. For the three and six months ended June 30, 2023, we accrued $30,000 and $60,000, respectively, in legal fees to SLG, and made no payments during those periods. For the three and six months ended June 30, 2022, we accrued $30,000 and $65,843, respectively, in legal fees to Silvestre Law Group. We paid Silvestre Law Group $40,000 for the Monthly Fee and recorded an additional $25,843 in legal fees for other services not covered by the Monthly Fee during the six months ended June 30, 2022.

The company had a balance due to Silvestre Law Group of $369,848 and $309,848 at June 30, 2023 and December 31, 2022, respectively. Silvestre Law Group also holds $290,000 of our convertible debentures at June 30, 2023 and December 31, 2022. During the three and six months ended June 30, 2023, we recorded imputed interest of $3,625 and $7,250, respectively, on the debentures.