Employment Agreements – Related Parties

3 Months Ended

Mar. 31, 2026

Related Party Transactions [Abstract]

Employment Agreements – Related Parties

Note 5 – Employment Agreements – Related Parties

In August 2012, we entered into an employment agreement with Raymond Wright, for the position of president of GIE, for a term of five years, with compensation of $90,000 per year. In September 2014, Mr. Wright’s employment agreement was amended to increase his annual pay to $180,000. By its terms, Mr. Wright’s employment agreement automatically renewed on August 12, 2020, 2021, 2022, 2023, 2024 and 2025., for successive one-year periods. During the three-month period ended March 31, 2026 and 2025, we paid and/or accrued a total of $45,000 under the terms of the agreement. As of March 31, 2026, total accrued salary was $1,680,938 and, as of December 31, 2025, total accrued salary was $1,635,938 The liability is presented as part of Accounts payable and accrued expenses -related party. Mr. Wright is also the Chairman of our Board of Directors.

Effective May 10, 2018, we entered into an employment agreement with Ransom Jones, Chief Financial Officer, Secretary and a member of the board of directors. Mr. Jones earns a base salary of $120,000 per year. During each year that Mr. Jones’ agreement is in effect, he is entitled to receive a bonus (“Bonus”) equal to at least Thirty-Five Thousand Dollars ($35,000) per year, such amount having been accrued for the period ended December 31, 2025. Mr.Jones received a grant of common stock (the “Stock Grant”) at the start of his employment equal to 250,000 shares each of the Company’s Common Stock, par value $.0001 per share (the “Common Stock”), such shares vesting immediately. Mr. Jones is also entitled to participate in the Company’s benefit plans when such plans exist. The foregoing summary of Mr. Jones’s employment agreement is qualified in its entirety by reference to the actual true and correct Employment Agreement by and between Mr. Jones and our Company, dated May 10, 2018, a copy of which is filed as Exhibit 10.40 to this Form 10-K and incorporated by reference herein. By its terms, Mr. Jones’ employment agreement automatically renewed on May 10,2019, 2020, 2021, 2022, 2023, 2024 and 2025, for successive one-year periods. During the three-month period ended March 31, 2026 we paid and/or accrued a total of $30,000 under the terms of the agreement. As of March 31, 2026, total accrued salary was $898,167 and, as of December 31 2025, the total accrued salary was $884,667 and is presented as part of Accounts payable and accrued expenses – related parties.