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4. Related Party Transactions

9 Months Ended

Sep. 30, 2018

NOTE 4.

RELATED PARTY TRANSACTIONS

In August 2013 our founder, former officer and director, and significant shareholder, Marty Weigel, loaned us $9,000 to fund the start-up of our initial operations. In May of 2018, we settled the outstanding obligation due to Mr. Weigel in full.

As of September 30, 2018, and December 31, 2017 we owed Ingenium Accounting Associates, an accounting Firm controlled by Marty Weigel, zero and $4,600, respectively, related to payments made on our behalf to maintain our regulatory filings with the State of Nevada, and pay for operating expenses. In May 2018, we settled all previously outstanding obligations due to Ingenium Accounting Associates.

As of September 30, 2018, and December 31, 2017, we owed Mr. Kersey $4,038 and $18,168, respectively, for administrative and travel expenses paid on our behalf. In May 2018, we settled all of the previously outstanding obligations due to Mr. Kersey as of December 31, 2017 with the exception of his accrued director fees. The Company incurred directors fees due to Mr. Kersey totaling $5,000 and $15,000 for the three and nine months ended September 30, 2018 and 2017, respectively. As of September 30, 2018, and December 31, 2017, director fees totaling $50,000 and $35,000, respectively, remained outstanding and are included in accrued director fees in the accompanying consolidated balance sheets.

The Company incurs Director fees on a quarterly basis at $5,000 per quarter. As of September 30, 2018, and December 31, 2017 the Company recognized accrued director fees due to its two non-officer Directors totaling $100,000 and $70,000, respectively.