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Related Parties
12 Months Ended
Dec. 31, 2021
Related Party Transactions [Abstract]  
Related Parties [Text Block]

7. Related Parties

Notes Payable

On March 31, 2022, 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 quarter ended March 31, 2022. The note, as amended, stopped accruing monthly interest on January 1, 2021. Mr. Jones had accrued interest payable at March 31, 2022 and December 31, 2021 of $47,698.

James Collord, the Company's Vice President and Chief Operating Officer was paid $40,000, paying off the principal of the note payable balance of $39,808 as well as $192 of accrued interest during the year ended December 31, 2021. Mr. Collord had accrued interest payable at March 31, 2022 and December 31, 2021 of $32,479.

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 March 31, 2022 and December 31, 2021 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 March 31, 2022 and December 31, 2021, the balance due to Baird for prior years' legal services was $166,685.