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NOTE 6 - RELATED PARTY TRANSACTIONS
12 Months Ended
Dec. 31, 2019
Related Party Transactions [Abstract]  
NOTE 6 - RELATED PARTY TRANSACTIONS.

NOTE 6 - RELATED PARTY TRANSACTIONS

 

Loans Payable, Related Party

 

The Company periodically receives advances from a corporation controlled by John Munoz, beneficial owner of 25,000,000 shares of our common stock and Chief Executive Officer of the Company from inception on January 6, 2016 to July 25, 2017. These loans are non-interest bearing and due on demand. During the year ended December 31, 2019, the Company received additional loans of $66,750 and paid $54,000 as a repayment on the loans. The amount of loans payable to this corporation as of December 31, 2019 and 2018 was $96,750 and $84,000, respectively.

 

Sublease Agreements

 

On July 1, 2017, the Company entered into a Sublease Agreement with another corporation controlled by John Munoz. The Sublease Agreement provided for the Company’s use of office space in Harbor City, California at a Monthly Base Rent of $500 per month. The term of the Sublease commenced on July 1, 2017 and ended October 31, 2019.

 

Effective November 1, 2019, the Company entered into a Sublease Agreement with the related party described in the first paragraph of Note 6 for the Company’s use of office space in Long Beach, California at a Monthly Base Rent of $500 per month. The Sublease is month to month and terminable by either party upon 30 days written notice.

 

For the years ended December 31, 2019 and 2018, the Company recorded $6,000 and $6,000, respectively, in rent expense which is included in other selling, general and administrative expenses.