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SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2022
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 6- SUBSEQUENT EVENTS

 

 On October 13, 2022 the Company negotiated a Working Capital Funding agreement with Jeffrey Postal, a director, to provide funding for daily operations (the “Working Capital Funding Agreement”). The term of this agreement is 18 months and principle accrues simple interest at a rate of 5 percent per annum. The loan may be prepaid in full or partially without any penalty. The Company received $50,000 on October 13 , 2022 which was the maximum loan available under this Working Capital Funding Agreement.

 

Effective October 1, 2022, through December 31, 2022, one hundred percent of Mr. Wallach’s salary compensation will be deferred until 2023 (see also Note 4).

 

Effective October 1, 2022 through December 31, 2022, one hundred percent of Mr. Wolf’s consulting fee payment will be deferred until 2023 (see also Note 4).