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Related Party Transactions
 6 Months Ended
Jun. 30, 2023
Related Party Transactions [Abstract]  
Related Party Transactions

NOTE 7 – Related Party Transactions

 

During the year ended December 31, 2017, one hundred ten (110) gaming machines were sold to a company controlled by Mr. Paul Parliament, the Company’s former chief executive officer, for a total of $770,000. The sales were financed by a notes receivable in the amount of $342,000. Due to uncertainty of repayment, the notes receivable of $342,000 were allowed for as a bad debt at December 31, 2017 (See Note 6). The above mentioned sales were also paid for by reducing Mr. Parliaments’ note payable from the Company in the amount of $76,000.

 

During the year ended December 31, 2017, seventy-five (75) gaming machines were sold to a company controlled by Mr. Doug Brooks, a former director of the Company, for a total of $525,000. The sale reduced the note payable to Mr. Brooks in the amount of $209,000. The sale was also financed by a note receivable in the amount of $76,000. Due to uncertainty of repayment, the note receivable of $76,000 was allowed for as a bad debt at December 31, 2017 (See Note 6).

 

Due to Related Parties consist of payments of Company expenses by the Company’s one (1) current director, two (2) former directors and one (1) shareholder. Amounts due were $66,230 and $193,570 at June 30, 2023 and December 31, 2022, respectively.

 

The Company utilizes the services of Yes International Inc., which is controlled by Mr. Richard Kaiser who is a member of the Board of Directors. Yes International provides all services at no cost except for press release wire services. For each of the three and six months ended June 30, 2023 and 2022 the Company paid press release wire services in the amount of $870 and $-0-, respectively. The Company paid Yes International for filing fees in the amount of $930 and $-0- for each of the three and six months ended June 30, 2023 and 2022, respectively. The Company also currently operates out of the Yes International Inc., offices at no cost.