Acquisition of minority stockholders interest in ATHI

12 Months Ended

Dec. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Acquisition of minority stockholders interest in ATHI

5. Acquisition of minority stockholders interest in ATHI

On May 15, 2024, the Company entered into a Stock Purchase Agreement whereby it acquired the remaining 25% of ATHI representing 5,000,000 shares from the minority stockholder for gross proceeds of $1,100,000. The Company paid an initial deposit of $25,000 and on closing an additional $600,000. The Company issued a non-interest-bearing promissory note for the remaining balance of $475,000, which promissory note is repayable in installments of $10,000 a month on each monthly anniversary date of the agreement for months one to eight (eight installments) and months ten through seventeen (eight instalments), and payments of $157,500 on month nine and month eighteen, for a total of $475,000.

The acquisition of the minority stockholders interest was accounted for in terms of ASC 810, Consolidation.

	Amount
Purchase price
Cash	$	625,000
Promissory note		475,000
		1,100,000
Allocation of purchase price
Minority stockholders interest		101,842
Additional paid in capital		(1,201,842	)
	$	(1,100,000	)