RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2022

RELATED PARTY TRANSACTIONS

Note 6 - Related Party Transactions

NOTE 6 – RELATED PARTY TRANSACTIONS

All related party transactions are recorded at the exchange amount which is the value established and agreed to by the related party. Mr. William Alessi, CEO, is the Principal Executive Officer and director of the Company. The JanBella Group is an entity controlled by Mr. Alessi. Chris Chumas is a director and a minority shareholder of the Company.

On or about July 22, 2019, the Company purchased shares of its Class A Preferred Shares from the following persons:

	Class A
Name	Preferred Shares		Consideration
William Alessi		12,000,000	$	200,000	(1)
Chris Chumas		6,000,000	$	100,000	(1)

____________

(1) Payment for the preferred shares was in the form of notes. The notes bear interest at 8% per year, are due and payable on October31, 2022, and are unsecured.

The following table presents principal amounts due, and common and preferred shares held by William Alessi, Chris Chumas and S. Mark Spoone as of March 31, 2022:

			Interest			Common Shares			Preferred Shares
Name	Principal		rate			#			#
Chris Chumas	$	100,000		10	%		7,000,000		nil
William Alessi		200,000		10	%		6,971,050	(1)	nil
JanBella Group (2)		110,000		10	%	nil			nil
Total	$	410,000

⁽¹⁾ Includes 6,971,000 shares held in the name of Mr. Alessi’s trust, and 50 shares held in the name of Mr. Alessi’s IRA.

⁽²⁾ Mr. Alessi’s entity.

See Part II – Unregistered Sales of Equity Securities and Use of Proceeds regarding the sale of unregistered securities and use of proceeds.