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Stock Payable
12 Months Ended
Dec. 31, 2022
Stock Payable  
Stock Payable

Note 15. Stock Payable

 

In 2019, the Company had an outstanding payable of $11,800,000 payable in common stock to Sustainable Fuels, Inc. (“SFI”) for the Extraction Technology (See Note 13). Before the Common Stock was issued, the owner of SFI died and the matters and affairs of his estate were passed to the executor of his estate. We attempted to contact SFI and the executor of the estate multiple times to issue and send the common stock to the company or appropriate successor of the estate to no avail. In 2021, the Company was able to make contact with the new owner of SFI and we issued 20,000,000 shares of Common Stock to SFI per the terms of the agreement.