NOTE 9 - RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2022

Related Party Transactions [Abstract]

NOTE 9 - RELATED PARTY TRANSACTIONS

NOTE 9 - RELATED PARTY TRANSACTIONS

Loans from Related Parties

The Company has a loan from our Founder with a balance of $415,895 and $428,177 at March 31, 2022 and December 31, 2021, respectively. The loan is non-interest bearing and repayable on demand. The Company received $0 and $0 proceeds and made repayments of $0 and $66,000 (converted into preferred stock) during the   three months ended March 31, 2022 and 2021. Activity on this loan to arrive at the March 31, 2022 and December 31, 2021 balances is as follows:

	Three Months Ended March 31,			Year Ended December 31,
	2022			2021
Beginning balance	$	428,177		$	500,915
Effects of currency translation		(12,282	)		(6,378	)
Loan Payable		415,895			494,177
Less: conversions into preferred stock		—			(66,000	)
Ending balance	$	415,895		$	428,177

At December 31, 2020, the Company had loans from two minority shareholders totaling $297,006. During the fourth quarter of 2021, the Company received an additional loan from one of these minority shareholders totaling $81,162. The loan is non-interest bearing and due for repayment on February 28, 2022. Agreement was reached to extend repayment of the loan to April 30, 2022, with no penalties. All outstanding amounts were paid by this date (see Note 13). During the three months ended March 31, 2022 and 2021, the Company received proceeds on these loans of $19,709 and $0, respectively, and made repayments of $52,556 and $225,060, respectively. Activity on this loan to arrive at the March 31, 2022 and December 31, 2021 balances is as follows:

	Three Months Ended March 31,			Year Ended December 31,
	2022			2021
Beginning balance	$	81,162		$	297,006
Effects of currency translation		(2,328	)		6,062
Loan Payable		78,834			303,068
Add: additions		19,709			81,162
Less: repayments		(52,556	)		(303,068	)
Ending balance	$	45,987		$	81,162