Related Party Transactions

9 Months Ended

Sep. 30, 2023

Related Party Transactions

Related Party Transactions

Note 8 - Related Party Transactions

In 2021, the Company entered into an agreement to fabricate and manufacture the AirSCWO systems with Merrell Bros. Holding Company. As part of the agreement, the Company appointed Terry Merrell to its board of directors. As of September 30, 2023, Merrell Bros. or their affiliates own stock in excess of 4% of the outstanding common stock. For the nine-month period ending September 30, 2023, the Company incurred $736,775 in related party expenses, all of which was related to non-recurring labor as well as costs associated with the manufacturing of the AirSCWO systems. As of September 30, 2023, there is an accrual of $131,923 in related party expenses, all of which are costs associated with the manufacturing of the AirSCWO systems.