RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2021

RELATED PARTY TRANSACTIONS

NOTE 8 - RELATED PARTY TRANSACTIONS

As of March 31, 2021 and December 31, 2020, the Company had accrued expenses to related parties of approximately $935,000 and $853,000.

As of March 31, 2021, the amounts are due to the Company’s sole officer for compensation $247,000 and the chairman of the board for compensation of $633,000 and the members of the board of directors of $55,000.