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RELATED PARTY TRANSACTIONS
9 Months Ended
Sep. 30, 2022
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

12. RELATED PARTY TRANSACTIONS

 

On January 22, 2018, the Company appointed James Geiskopf as Lead Director. As of September 30, 2022, the Company had accounts payable and accrued expenses owing to this related party of $nil (December 31, 2021 - $nil).

 

On April 1, 2021, the Company appointed Cameron Chell as Executive Chairman. As of September 30, 2022, the Company had accounts payable and accrued expenses owing to this related party of $nil (December 31, 2021 - $30,000).

 

On August 1, 2022, the Company appointed Scott Gallagher as President. As of September 30, 2022, the Company had accounts payable and accrued expenses owing to this related party of $7,500 (December 31, 2021 - $nil).

 

On December 4, 2018, the Company appointed Swapan Kakumanu as Chief Financial Officer. As of September 30, 2022, the Company had accounts payable and accrued expenses owing to this related party of $nil (December 31, 2021 - $20,000).

 

On October 9, 2017, the Company signed an agreement with a company owned by Swapan Kakumanu to complete the accounting functions of the Company. As of September 30, 2022, the Company had accounts payable and accrued expenses of $12,500 (December 31, 2021 - $25,000).

 

On May 5, 2021, the Company loaned Fogdog $400,000 of which our CFO is a director, chief financial officer and shareholder (Note 4). Effective as of August 20, 2021, we loaned an additional $850,000 to Fogdog pursuant to convertible promissory note (Note 4). As at September 30, 2022, the Company had total outstanding notes receivable from Fogdog of $1,250,000 (December 31, 2021 - $1,250,000). Accrued interest on the total loan as at September 30, 2022 is $117,036 (December 31, 2021 - $24,773).

 

The Company has an investment in a related party, VON, please refer to Note 6.