v3.21.2
Due to Stockholders
 12 Months Ended
Dec. 31, 2020
Related Party Transactions [Abstract]  
Due to Stockholders

NOTE 8 - DUE TO STOCKHOLDERS

 

Due to stockholders at December 31, 2020 and 2019 consists of the following:

 

    December 31,  
    2020     2019  
Daniel Monteverde     -       1,388  
Angelo Ponzetta     11,217       10,167  
Christopher Burden     172,536       172,536  
Maurice Ojeda     200,000       200,000  
    $ 383,753     $ 384,091  

 

During the year December 31, 2019, the Company converted amounts to Daniele Monteverde and Angelo Ponzetta totaling $723,253 into Series A Preferred Shares, which was treated as contributed capital.

 

In connection with the Bluwire acquisition, the Company assumed liabilities to Bluwire’s members, Christopher Burden and Maurice Ojeda, totaling $372,536. The amounts do not incur interest and are due on demand. See Note 8 for additional information.

 

As of December 31, 2020 and 2019, accounts payable and accrued liabilities included salaries of $139,300 and $111,000, respectively, and accrued board of director fees of $150,000 and $30,000, respectively.