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

 

NOTE 6. RELATED PARTY TRANSACTIONS

 

The following table sets forth the components of the Company’s related party liabilities on March 31, 2022 and December 31, 2021.

          
  

March 31,

2022

  

December 31,

2021

 
Loan payable, related parties(a)  $19,757   $19,757 
           
Total loan payable, related parties  $19,757   $19,757 

 

(a) Interest-free loan of $19,757 due to former directors.

 

Effective March 22, 2019, the Company established its principal place of business and leases offices at 3600, 888 – 3rd St SW, Calgary, Alberta, Canada, T2P 5C5. The lease may be terminated by either party on 30 days’ notice. Rent is $2,000 CAD per month effective October 1, 2020 (retroactively reduced from $4,000 per month). This space was provided by a company to which, Mr. Orman, one of the Company’s directors, serves as a Director.