Related Parties Transactions

6 Months Ended

Jun. 30, 2024

Related Party Transactions [Abstract]

Related Parties Transactions

5. Related Parties Transactions

Due to Related Parties

Amounts owed to related parties are as follows:

Schedule of amounts owed to related parties
	June 30, 2024		December 31, 2023
Joe Grimes	$	154,061	$	151,061
Sanjay Prasad		7,289		7,289
Don Smith		39,000		39,000
KeptPrivate.com		16,000		16,000
	$	216,350	$	213,350

Mr. Grimes is our CEO and Director as well as our largest shareholder. Certain amounts owed to Mr. Grimes are represented by notes payable with zero interest rates.

Mr. Prasad, Director, has made various patent filings for our Company in recent years, which amounts have been recorded in Patents, net on the accompanying Balance Sheet. Amounts charged by Mr. Prasad for the six-month periods ended June 30, 2023 and 2022, totaled $592 and zero, respectively.

Mr. Smith was our Company’s CFO until his resignation effective May 31, 2023. Mr. Smith is a party to a November 17, 2021 employment agreement, as amended, under which our Company agreed to pay Mr. Smith monthly cash payments of $3,500. The amounts charged by Mr. Smith for services for the six months ended June 30, 2023 and 2022, totaled $17,500 and $21,000, respectively.

KeptPrivate.com is owned by Mr. Steven Ritacco, a Director of our Company. Mr. Ritacco is a party to a November 17, 2021 employment agreement, as amended, under which Mr. Ritacco, through his company KeptPrivate.com, is to receive monthly cash payments of $8,000. His company performs services related to the development of our Company’s digital transportation enablement and enhancement platform, which amounts are included in Software and Equipment, net on the accompanying Balance Sheet. Beginning in April 2022, Mr. Ritacco informed our Company that he would forego any cash compensation until such time as our Company has a significant funding event. The amount charged by KeptPrivate.com for services for the years ended six months ended June 30, 2023 and 2022 totaled zero and $24,000, respectively.

Amount due to related parties bear no interest, are unsecured and are repayable on demand. Imputed interest on amounts owed is immaterial.