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NOTE 8 - RELATED PARTY TRANSACTIONS
 3 Months Ended
Mar. 31, 2022
Related Party Transactions [Abstract]  
NOTE 8 - RELATED PARTY TRANSACTIONS

NOTE 8 - RELATED PARTY TRANSACTIONS

 

Due from related parties

 

As of March 31, 2022 and December 31, 2021, the Company had due from related parties of $399,571 and $424,086. The loans are unsecured, non-interest bearing and due on demand.

 

Due to related parties

 

During the three months ended March 31, 2022 and 2021, the Company repaid $0 and $10,587 to certain members of Company management.

 

As of March 31, 2022 and December 31, 2021, the Company had amounts due to related parties of $26,613.

 

Employment agreements

 

During the three months ended March 31, 2022 and 2021, the Company recorded management fees of $135,000 and $135,000, bonus of $0 and $564,000 and paid $147,000 and $143,221, respectively.