Related party transactions

12 Months Ended

Dec. 31, 2021

Related Party Transactions [Abstract]

Related party transactions

17. Related party transactions

Shawn E. Leon

As of December 31, 2021 and 2020 the Company had a payable to Shawn Leon of $106,100 and $322,744, respectively. Mr. Leon is a director and CEO of the Company. The balances payable are non-interest bearing and has no fixed repayment terms.

Management fees from prior periods due to Mr. Leon amounting to $259,707, and reflected as a payable to Mr. Leon were reversed during the current year.

Due to the current financial position of the Group, Mr. Leon forfeited the management fees due to him for the years ended December 31, 2021 and 2020.

Leon Developments, Ltd.

As of December 31, 2021 and 2020, the Company owed Leon Developments, Ltd. $935,966 and $930,307, respectively, for funds advanced to the Company.

Eileen Greene

As of December 31, 2021 and 2020, the Company owed Eileen Greene, the spouse of our CEO, Shawn Leon, $1,472,215 and $1,558,798, respectively. The amount owing to Ms. Greene is non-interest bearing and has no fixed repayment terms.

All related party transactions occur in the normal course of operations and in terms of agreements entered into between the parties.