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RELATED PARTY TRANSACTIONS
 6 Months Ended
Jun. 30, 2026
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 8 – RELATED PARTY TRANSACTIONS

 

Notes payable – related party

 

On June 30, 2026 and December 31, 2025, $1,678,087 (comprising of $1,603,100 of advances and $74,987of interest) and $882,632 (comprising of $853,100 of advances and $29,532 of interest), respectively was due to Emil Assentato, the Company's Chief Executive. During six months ended June 30, 2026, the Company issued total advances for $750,000 comprising $750,000 for cash received and $0 of expenses paid on behalf of the Company. This note payable – related party earns interest at 8% per annum, is unsecured and is due on demand.

Employment Agreements

 

During the six months ended June 30, 2026 and 2025, compensation expenses of $1,176,500 (comprising stock-based compensation of $957,500 and cash compensation of $219,000) and $130,000, respectively, was incurred for the Chief Executive Officer, Chief Financial Officer, Head of Strategy and a Director.

 

Software Development Agreement

On May 1, 2026, the Company entered into a contract with Ujjwal Roy, the Head of Strategy of the Company, to (a) complete the build-out of the user face for EntangleX and (b) provide ongoing maintenance, operations, marketing, sales, and engineering services (“monthly operating costs”) to EntangleX and Scalora. The Company is committed to $250,000 in expenditures for the EntangleX build-out project which is expected to be completed in three months. The Company is also committed to an estimated $35,000 of monthly operating costs for the support of EntangleX and Scalova ($20,000 for EntangleX and $15,000 for Scalova). Pursuant to the provisions of ASC 985-20, all payments made during the period under this agreement to Ujjwal Roy ($80,000 for EntangleX and $70,000 in operating costs) have been deemed research and development, which we have recorded in general and administrative expense on the condensed consolidated statements of operations and comprehensive income (loss).