Related Party Transactions

9 Months Ended

Sep. 30, 2021

Related Party Transactions [Abstract]

Related Party Transactions

7. Related Party Transactions

During the nine months ended September 30, 2021, the Company recorded salaries expense of $157,899 (2020 - $48,194) related to services rendered to the Company by its CEO. During the same period the Company recorded salaries expense of $58,167 to an officer of the Company who is also a director of the Company.

During the nine months ended September 30, 2021 the Company repaid $75,621 to the Company’s CEO and director. During the same period the Company’s CEO and director paid on behalf of the Company’s operating expense of $26,760 for a total net transaction of $48,861. As of September 30, 2021 the Company has a receivable from related party of $25,468.

During the year ended December 31, 2020, the Company repaid $5,245 to the Company’s CEO and director. As of December 31, 2020, the Company has $23,393 in related party loan.

During the nine months ended September 30, 2021 the Company paid a director of the Company $50,000 for services rendered from 2015 to 2020.

During the nine months ended September 30, 2021, the Company paid $59,203 to a U.S.-based corporation which the Company’s CEO and director is also a stockholder.

Refer to note 6 and 15 for additional related party transactions.