13. Loans Payable to Related Parties

		June 30, 2024		December 31, 2023
Directors	$	48,500	$	47,500
CFO		25,951		-
Shareholders		3,000		-
Haute Inc.		678,889		442,016
Total	$	756,340	$	489,516

The loans owing to directors were received by the Company on June 6, 2022, March 16, 2023 and June 6, 2024, are unsecured, bearing interest at 5% per annum and due on demand. During the three and six-month periods ended June 30, 2024, $685 and $1,276 (2023-$603 and $1,146) respectively, in interest was incurred on the directors' loans. As at June 30, 2024, $4,028 (December 31, 2023-$3,386) of accrued interest is included in accrued liabilities in the interim condensed consolidated balance sheets.

The loans from the CFO were provided to the Company for working capital purposes on March 15, 2024 and throughout the three months ended June 30, 2024, and are unsecured and non-interest bearing.

On December 5, 2023, the Company received a loan from Haute Inc., in the amount of $442,800 (C$600,000) bearing interest at 13% per annum, due June 5, 2024. The net proceeds were $248,333 (C$336,495) after deducting outstanding interest on existing mortgages for a wholly owned subsidiary, 1684567, and other disbursements in the amount of $150,674 (C$204,165), a financing fee in the amount of $13,284 (C$18,000) plus the applicable harmonized sales taxes of $1,727 (C$2,340). In addition, six months of interest in the amount of $28,782 (C$39,000) was capitalized.

On January 9, 2024, the Company received a loan from Haute Inc., in the amount of $243,296 (C$329,670) bearing interest at 13% per annum due July 9, 2024. The proceeds received on January 9, 2024 net of capitalized interest of $14,391 (C$19,500) for six months and a financing fee of $6,642 (C$9,000) plus the applicable harmonized sales taxes of $863 (C$1,170) amounted to $221,400 (C$300,000).

During the three and six-month periods ended June 30, 2024, $20,272 (C$27,748) and $41,741 (C$56,705) (2023-$nil; C$nil and $nil; C$nil) respectively, in interest was incurred on the two loans from Haute Inc.

In addition, on January 11, 2024, Travellers converted $101,130 (C$135,600) of accounts payable into 809,044 common shares of the Company at the closing trading price immediately prior to the conversion. There was no gain or loss on this conversion.

During the three and six-month periods ended June 30, 2024, Travellers, converted a total of $nil (C$nil) and $101,130 (C$135,600) of outstanding accounts payable (2023-$278,845; C$372,483 and $278,845; C$372,483 of outstanding loans) respectively, owing to Travellers for nil and 809,044 (2023 - 1,167,371 and 1,167,371) respectively, common shares of the Company at the closing trading price immediately prior to each conversion. There was no gain or loss on these conversions.