v3.21.2

PREPAID EXPENSE AND OTHER ASSETS | 9 Months Ended
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Sep. 30, 2021
Prepaid Expense And Other Assets |
PREPAID EXPENSE AND OTHER ASSETS | NOTE 5 – PREPAID EXPENSE AND OTHER ASSETS Prepaid expense and other current assets at September 30, 2021 and December 31, 2020 consist of the following: SCHEDULE OF PREPAID EXPENSE AND OTHER ASSETS
|  | September 30, 2021 |  |  | December 31, 2020 |
Prepaid expense |  | $ | 11,005 |  |  | $ | 12,920 |
Other assets |  |  | 89,000 |  |  |  | - |
Total prepaid expense and other assets |  | $ | 100,005 |  |  | $ | 12,920 |
The company is developing new software and has so far spent $89,000 towards its development. The Company entered into an agreement with very accomplished developers located in South Africa. These same developers were instrumental in designing the software that is operating today on all debit and credit card smart chips worldwide. These developers will complete our Social Shopping App platform which processes payments securely to our merchants such that our users will never have their personal payment data “at risk” online. The total cost will not exceed $650,000 including cash and stock, and it is estimated that the App may be released before the end of 2021. As of this filing $50,000 have already been made under our installment arrangement. The Company also consummated a License Purchase with Tiltsa, Inc of Tiltsa’s cutting edge software. This software license, among other things, will allow us to access more than 300,000 merchants for our APP and will allow easy uploading of new merchants. We have made the full $19,000 Payment for the software and our app developers are already integrating this software into our platform.

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