7. Related Parties	9 Months Ended
Sep. 30, 2021
Notes
7. Related Parties	7. Related Parties Notes Payable At September 30, 2021 the Company had a notes payable balance of $66,768 due to Eric Jones. Mr. Jones is the Company’s President and Chief Executive Officer. Mr. Jones received no payments during the nine months ended September 30, 2021. The note, as amended, stop accruing monthly interest on January 1, 2021, and payment is due on December 31, 2021. Mr. Jones had accrued interest payable at both September 30, 2021 and December 31, 2020 of $47,697. James Collord, the Company’s Vice President and Chief Operating Officer was paid $40,000 paying off the note payable balance of $39,808 as well as $192 of accrued interest during the nine months ended September 30, 2021. The note, as amended, stopped accruing monthly interest on January 1, 2021, and payment was due on December 31, 2021. For the three months ended September 30, 2021, Mr. Collord exercised stock options, using $8,163 of accrued interest plus $2,500 in deferred wages, net of $663 in related taxes, to cover the option exercise price of $10,000. Accrued interest payable to Mr. Collord as of September 30, 2021, and December 31, 2020 was $32,479 and $40,834, respectively. Deferred Officer Compensation Three of the Company’s officers began deferring compensation for services on April 1, 2015. On July 31, 2018, the Company stopped expensing and deferring compensation for the three Company officers in the interest of marketing the SMMI project. As part of the BeMetals agreement (Note 3), the Company resumed compensation for these officers on May 15, 2019. The officers deferred compensation balances at September 30, 2021 and December 31, 2020 represent the balances deferred prior to the BeMetals agreement and are as follows: Eric Jones, President and Chief Executive Officer - $420,000; Jim Collord, Vice President and Chief Operating Officer - $420,000; and Larry Thackery, Chief Financial Officer - $201,500. Accrued Related Party Liability The Company engaged Baird Hanson LLP (“Baird”), a company owned by one of the Company’s directors, to provide legal services. At September 30, 2021 and December 31, 2020, the balance due to Baird for prior years’ legal services was $166,685 and $186,685, respectfully. For the nine months ended September 30, 2021 the Company has paid Baird $20,000 on the balance due.

7. Related Parties

9 Months Ended

Sep. 30, 2021

7. Related Parties

Notes Payable

At September 30, 2021 the Company had a notes payable balance of $66,768 due to Eric Jones. Mr. Jones is the Company’s President and Chief Executive Officer. Mr. Jones received no payments during the nine months ended September 30, 2021. The note, as amended, stop accruing monthly interest on January 1, 2021, and payment is due on December 31, 2021. Mr. Jones had accrued interest payable at both September 30, 2021 and December 31, 2020 of $47,697.

James Collord, the Company’s Vice President and Chief Operating Officer was paid $40,000 paying off the note payable balance of $39,808 as well as $192 of accrued interest during the nine months ended September 30, 2021. The note, as amended, stopped accruing monthly interest on January 1, 2021, and payment was due on December 31, 2021.

For the three months ended September 30, 2021, Mr. Collord exercised stock options, using $8,163 of accrued interest plus $2,500 in deferred wages, net of $663 in related taxes, to cover the option exercise price of $10,000. Accrued interest payable to Mr. Collord as of September 30, 2021, and December 31, 2020 was $32,479 and $40,834, respectively.

Deferred Officer Compensation

Three of the Company’s officers began deferring compensation for services on April 1, 2015. On July 31, 2018, the Company stopped expensing and deferring compensation for the three Company officers in the interest of marketing the SMMI project. As part of the BeMetals agreement (Note 3), the Company resumed compensation for these officers on May 15, 2019. The officers deferred compensation balances at September 30, 2021 and December 31, 2020 represent the balances deferred prior to the BeMetals agreement and are as follows: Eric Jones, President and Chief Executive Officer - $420,000; Jim Collord, Vice President and Chief Operating Officer - $420,000; and Larry Thackery, Chief Financial Officer - $201,500.

Accrued Related Party Liability

The Company engaged Baird Hanson LLP (“Baird”), a company owned by one of the Company’s directors, to provide legal services. At September 30, 2021 and December 31, 2020, the balance due to Baird for prior years’ legal services was $166,685 and $186,685, respectfully. For the nine months ended September 30, 2021 the Company has paid Baird $20,000 on the balance due.