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RELATED PARTY TRANSACTIONS
 12 Months Ended
Dec. 31, 2024
RELATED PARTY TRANSACTIONS  
RELATED-PARTY TRANSACTIONS

NOTE 9 – RELATED-PARTY TRANSACTIONS

 

We maintain a conflicts of interest and related-party transactions policy requiring (i) certain disclosures be made to our Board of Directors in relation to situations where officers, directors, significant shareholders, or any of their affiliates may enter into transactions with us, and (ii) certain disclosures appear in the reports we prepare and file with the SEC.  In this regard, during the period covered by this report we entered into, or remained a party to, the following related-party transactions:

 

 

·

We held a promissory note with two shareholders in the principal amount of $250,000. The promissory note bore interest payable monthly at the rate of 10% per annum. The note was secured by the debtors’ pledge to us of 277,778 shares of common stock. The note was paid in full including all accrued interest on September 26, 2024.

 

 

 

 

·

 As disclosed in Note 7, a component of our now terminated loan agreement was with a director of our Company.