RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2024

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 4 – RELATED PARTY TRANSACTIONS

We maintain our corporate offices at 5550 Nicollet Avenue, Minneapolis, MN 55419. We lease the premises on a month-to-month basis from 5550 Nicollet, LLC, a company owned by Mr. Chong. Rent for each of the first six-months of 2024 and 2023 was $4,650. As of June 30, 2024, there was no outstanding balance due to 5550 Nicollet LLC.

During the first half of 2024, the Company borrowed $100,000 from Xten Capital Group, a common control entity, while during the first half of 2023, the Company borrowed $900,000. The loan balance on June 30, 2024, is $1,000,000. The loan is due upon demand and is non-interest bearing.

In the first half of 2024, Liu Mei Chong loaned CQENS Electronics (Hong Kong) Limited $2,573 to fund operations. The loan is due upon demand and is non-interest bearing. At June 30, 2024, the loan balance is $6,820.