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Note 5 - Due To Related Party
12 Months Ended
Dec. 31, 2016
Notes  
Note 5 - Due To Related Party

NOTE 5 – DUE TO RELATED PARTY

 

As of December 31, 2016 and December 31, 2015 advances of $0 and $4,390, respectively, were due to DC Design Inc., the Company's former Chief Executive Officer. The balance are non-interest bearing, unsecured and have no specified terms of repayment.

 

As of December 31, 2016 and December 31, 2015 advances of $14,799 and $11,781, respectively, were due to Nadav Elituv, the Company's Chief Executive Officer. The balance is non-interest bearing, unsecured and have no specified terms of repayment.

 

As of December 31, 2016 and December 31, 2015 advances of $0 and $3,517, respectively, were due to Doug Clark, the Company's former Chief Executive Officer. The balance are non-interest bearing, unsecured and have no specified terms of repayment.

 

On July 1, 2015, the Company executed an employment agreement for the period from July 1, 2015 to June 30, 2016 with Nadav Elituv, the Chief Executive Officer of the Company whereby the Company shall pay 25,000 shares of Common Stock of the Company and an annual salary of $360,000 payable monthly on the first day of each month from available funds.

 

On July 1, 2016, the Company executed an employment agreement for the period from July 1, 2016 to June 30, 2017 with Nadav Elituv, the Chief Executive Officer of the Company whereby the Company shall pay 7,500 shares of Common Stock of the Company and an annual salary of $360,000 payable monthly on the first day of each month from available funds.

 

On September 1, 2016, the Company issued 200,000,000 shares of common stock to settle salary payable due to Nadav Elituv included in accounts payable and accrued liabilities totaling $260,000 ($0.0013 per share).  On November 7, 2016, the Company issued 2,183,015 shares of common stock to settle salary payable due to Nadav Elituv included in accounts payable and accrued liabilities totaling $251,047 ($0.115 per share) and 2,816,985 shares of common stock to settle stock payable due to Nadav Elituv totaling $282 ($0.0001 per share). At December 31, 2016, salary payable of $0 is included in accounts payable and accrued liabilities and stock-based compensation of $5,468 is included in stock payable.