RELATED PARTY

3 Months Ended

Mar. 31, 2022

RELATED PARTY

Related party

NOTE 6 - RELATED PARTY

Notes payable - related party consist of the following at:

	March 31, 2022			December 31, 2021
Note payable, secured, 5% interest, due May 2022	$	19,350		$	4,350
Note payable, secured, 12% interest, due May 2030		110,500			110,500
Note payable, secured, 12% interest, due April 2022		102,000			102,000
Total Notes Payable - related party	$	231,850		$	216,850
Less unamortized debt discounts		-			-
Total Notes Payable		231,850			216,850
Less current portion		(121,350	)		(106,350	)
Total Notes Payable - long term	$	110,500		$	110,500

During the three months ending March 31, 2022 the Company received $15,000 under a note payable from a director of the Company. As of March 31, 2022 and December 31, 2021, the Company had one note payable due to a director of the Company in the amount of $19,350 and $4,350, respectively. The note has an interest rate of 5%and is due on demand.

As of March 31, 2022 and December 31, 2021, the Company had one note payable due to an officer of the Company in the amount of $110,500 and $110,500, respectively. The note has an interest rate of 12%and is due on demand.

On April 30, 2021, the Company entered into a $150,000, 12% grid note payable with a Company controlled by the CEO that is due upon demand but no later than April 30, 2022. As of March 31, 2022 and December 31, 2021, the Company has received advances under the note of $102,000 and $102,000, respectively.

Interest expense associated with the related party notes for the three months ended March 31, 2022 and 2021 was $23,546 and $10,114 respectively.

Accounts payable and accrued liabilities – related party

In January 2019, the Company executed a lease agreement with Templar Asset Group, LLC, a related party. The lease term is one year at a rate of $4,200 per month for a period of one year with an option to continue a month-to-month basis thereafter. Under ASC 842, this lease is not recorded on the balance sheet as its term is 12 months or less.

Rent expense associated with the lease agreement for the three months ended March 31, 2022 and 2021 was $12,600 and $12,600, respectively. As of March 31, 2022 and December 31, 2021 the Company had amounts due associated with the lease of $71,700 and $71,700 , respectively.

In January 2014, the Company executed a lease agreement with Perigon Companies, LLC, a related party. The lease term is one month at a rate of $4,000 per month for a period of one month with an option to continue a month-to-month basis thereafter. Under ASC 842, this lease is not recorded on the balance sheet as its term is 12 months or less. The lease was terminated as of January 1, 2019.

Rent expense associated with the lease agreement for the three months ended March 31, 2022 and 2021 was $0 and $0, respectively. As of March 31, 2022 and December 31, 2021 the Company had amounts due associated with the lease of $34,500 and $34,500 , respectively.

During the three months ended March 31, 2022 and 2021 the Company received $0 and $0 in advances from a related party, respectively.As of March 31, 2022 and December 31, 2021 the Company had received advances from a related party of $23,500 and $23,500, respectively.