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NOTE 9 - RELATED PARTY TRANSACTIONS
 9 Months Ended
Sep. 30, 2022
Related Party Transactions [Abstract]  
NOTE 9 - RELATED PARTY TRANSACTIONS

NOTE 9 - RELATED PARTY TRANSACTIONS

 

Due from related parties

 

During the nine months ended September 30, 2022 and 2021, the Company advanced $1,000 and $35,674 to related parties and collected $100 and $226, respectively.

 

During the nine months ended September 30, 2021, the Company loaned $180,000 to our CEO and wrote off amounts totaling $8,004.

 

During the nine months ended September 30, 2021, the Company wrote off due from related party of $7,648.

 

As of September 30, 2022 and December 31, 2021, the Company had amounts due from related parties of $351,139 and $424,086. The loans are unsecured, non-interest bearing and due on demand.

 

Due to related parties

 

During the nine months ended September 30, 2022 and 2021, the Company repaid $0 and $90,787 to certain members of Company management.

 

As of September 30, 2022 and December 31, 2021, the Company had amounts due to related parties of $26,613.

 

Employment agreements

 

During the nine months ended September 30, 2022 and 2021, the Company recorded management fees of $405,000 and $414,000, bonus of $0 and $976,200 and paid $407,602 and $411,300, respectively.  Additionally, management received stock-based compensation of $92,130 and $34,538 during the nine months ended September 30, 2022 and 2021, respectively.