RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2019

NOTE 5 – RELATED PARTY TRANSACTIONS

On May 2, 2018, the Company issued to each of its three directors, 10,000,000 shares of restricted common stock, vesting as to 1/3 of the grant immediately, 1/3 of the grant on the one-year anniversary of the grant date and 1/3 of the grant on the two-year anniversary of the grant date. The value of the stock has been debited to prepaid stock compensation and will be amortized over the vesting period. As of March 31, 2019 and December 31, 2018, there is

$108,333 and $133,333 of prepaid stock compensation, respectively.

The restricted stock granted and exercisable at March 31, 2019 is as follows:

		Restricted Stock Granted				Restricted Stock Vested
Grant date price		Number granted		Weighted average exercise price		Number vested		Weighted average exercise price

$	0.01		30,000,000	$	0.01		10,000,000	$	0.01

The Company recorded an expense of $25,000 for the three months ended March 31, 2019, related to the restricted stock granted to the directors.

As of March 31, 2019 and December 31, 2018, $62,704 and $5,890, respectively, is owed to the three directors of the Company for director fees and various advances for services provided in the normal course of business. All amounts due are unsecured, non-interest bearing and due on demand.

On December 31, 2018, the Company executed a promissory note with John Huemoeller, Chairman, for $5,000. The promissory note is unsecured, bears interest at 5% and is due on or before December 31, 2019.