Related Party Transactions

12 Months Ended

Dec. 31, 2022

Related Party Transactions [Abstract]

Related Party Transactions

Note 7 – Related Party Transactions

Pursuant to an agreement dated June 2013 and amended in July 2021, TBG Holdings Corp. (“TBG”), was engaged to provide business advisory services, manage and direct our public relations, provide recruiting services, develop and maintain material for market makers and investment bankers, provide general administrative services, and respond to incoming investor relations calls. TBG is owned in part by Neil Swartz, the Company’s former Interim Chief Executive Officer and director, and a significant stockholder of the Company, and Timothy Hart, the Company’s former Chief Financial Officer and director, and a significant stockholder of the Company. Effective on June 14, 2022, Neil Swartz voluntarily resigned as CEO of MediXall Group, Inc. and the Company appointed Travis Jackson as his successor. On September 15, 2022, Timothy Hart voluntarily resigned as CFO of Medixall Group, Inc. and the Company appointment Noel J. Guillama Alvarez as his successor.

Under this agreement, the Company paid TBG a monthly fee of $40,000. In April 2021, we entered into an additional agreement with TBG to provide management services specifically to our Health Karma subsidiary. Under this new agreement, the Company paid TBG an additional monthly fee of $40,000. During the years ended December 31, 2022 and 2021, the Company expensed $720,000 and $840,000, respectively, of related party management fees related to these agreements. These agreements have been terminated effective September 30, 2022.

 R3 Accounting LLC (“R3”), owned by Mr. Hart, provides accounting, tax and bookkeeping services to the Company. During the years ended December 31, 2022 and 2021, the Company expensed $242,600 and $220,538, respectively, related to R3 services.

The Company received short term cash advances during 2021 from Turnkey. There were no advances received during 2022. The advances are due on demand, unsecured, and do not bear any interest.

Prepaid expenses (accounts payable and accrued expenses) to related parties are as follows:

Related Party	At December 31, 2022			At December 31, 2021
TBG – agreements have been terminated effective September 30, 2022	$	—		$	276,043
Turnkey		(547,650	)		(549,150	)
R3		(62,640	)		(18,052	)
	$	(610,290	)	$	(291,159	)