4. Related Party Transaction

6 Months Ended

Jun. 30, 2021

Notes

4. Related Party Transaction

4.Related Party Transaction 

During the six months ended June 30, 2020, the Company entered into a two term promissory notes with Ehave, Inc. (a majority shareholder) in the amount of $125,000. During the six months ended June 30, 2021, the Company entered into a term promissory note with Ehave, Inc. in the amount of $500,000. The notes mature two years after the issuance date and bear an interest rate of 1.75% per year. As of June 30, 2021 and December 31, 2020, the Company owes $625,000 and $125,000, respectively. During the three months ended June 30, 2021 and 2020, the Company recorded interest expense of $2,513 and $545, respectively, in relation to these notes. During the six months ended June 30, 2021 and 2020, the Company recorded interest expense of $3,051 and $702, respectively, in relation to these notes.