v3.19.3

Due to Stockholders | 9 Months Ended
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Sep. 30, 2019
Related Party Transactions [Abstract] |
Due to Stockholders | Note 7 – Due to Stockholders Amounts due to stockholders (related party) at September 30, 2019 and December 31, 2018 consist of the following:
|  | September 30, 2019 |  |  | December 31, 2018 |
Daniel Monteverde |  | $ | 1,388 |  |  | $ | 143,195 |
Angelo Ponzetta |  |  | 119,354 |  |  |  | 623,201 |
|  | $ | 120,742 |  |  | $ | 766,397 |
On August 12, 2017, Gianni Ponzetta loaned CHF 60,000. The promissory note was unsecured, bore an interest at 1% per annum and is due December 31, 2019. In September 2018, Gianni Ponzetta converted this note and all the due to Gianni Ponzetta payables to Preferred D-3 shares. See Preferred D-3 shares in Note 10 below. During the 12 months ended December 31, 2018 total advances and expenses paid directly by stockholders on behalf of the Company $107,326 and $36,931. During the nine months ended September 30, 2019, the Company exchanged most its accounts payables due to Daniele Monteverde and Angelo Ponzetta of approximately $723,253 into Series A Preferred shares. See Note 10 Series A Preferred Stock for further details.

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- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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