RELATED PARTY TRANSACTIONS |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
LOAN PAYABLE, RELATED PARTIES | |
NOTE 12 - RELATED PARTY TRANSACTIONS |
NOTE 12 – RELATED PARTY TRANSACTIONS
Loan Payable – Related Party
See “Note 6 – Loan Payable, Related Parties” for disclosure of loans payable to related parties.
Employment Agreement
See “Note 11 – Commitments and Contingencies” for disclosure of the employment agreements with the former Chief Executive Officer and current and former Chief Financial Officer.
Building Lease
As of December 31, 2021, the Company rents its office space from M&M Keego Center LLC. This entity is controlled by an immediate family member of a principal shareholder. The Company rents space on a month-to-month basis. The Company paid the related party $60,000 and $48,000 for the years ended December 31, 2021, and December 31, 2020 respectively for use of the office. See “Note 14 – Subsequent Events”.
Stock Issuances
On June 2, 2021, the Company completed its public offering of units consisting of common stock and warrants. Two of the Company’s directors participated in the offering; Chris Maggiore purchased 100,000 units, and Alison Cornell purchased 15,000 units. |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|