ADVANCES RECEIVABLE

12 Months Ended

Dec. 31, 2023

Advances Receivable

ADVANCES RECEIVABLE

NOTE 4 – ADVANCES RECEIVABLE

As of December 31, 2023, and 2022, cash advances receivable consisted of the following:

	December 31, 2023		December 31, 2022
Advance receivable – G	$	—	$	58,606
Advance receivable – J		—		21,643
Repayment received		—		(1,231	)
Interest due		—		1,891
Assignment of receivable		—		(71,540	)
Effects of Currency translation		—		(9,369
Total advances receivable	$	—	$	—

The advance labeled Advance principal receivable-G carries an interest rate of 3%. The advance principal labeled Advance receivable -J is non-interest bearing. Repayment of $1,231 and $0 was received from G during the year to December 31, 2023, and 2022, respectively.

On December 20, 2022, our founder, Mr. Stephen Morris, came to an agreement with the Company to have all risks and responsibilities in connection to the collection of the advances assigned to him. As a result, the loan payable to Mr. Morris was reduced by the same amount of $71,540. (See Note 10 – Related Party Transactions).