RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2022

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 9 - RELATED PARTY TRANSACTIONS

Notes Payable and Accrued Interest – Related Parties

For information on related party loans to the Company and other related party transactions, see Notes 5 and 6, Operating Lease and Notes Payable.

The accrued interest and interest expenses recorded for related party loans are shown below.

	June 30, 2022		December 31, 2021
Accrued Interest
Related party loan-Quintel	$	515,254	$	249,939
Related party loan-CEO loan		176,513		86,060
Related party loan – Line of credit		111,370		29,235

	Three months ended June 30, 2022		Six  months ended June 30, 2022		Three months ended June 30, 2021		Six  months ended June 30, 2021
Interest Expense
Related party loan-Quintel	$	134,637	$	265,315	$	241,985	$	522,524
Related party loan-CEO loan		45,790		90,453		41,449		60,185
Related party loan – Line of Credit		51,700		81,835				-

Other

The Company continues to hold 1,203,000 shares of XXII stock which is available for sale. On May 2, 2022 24,017 shares were sold and the proceeds from the sale were $46,833. On August 25, 2021 70,000 shares were sold and the proceeds from the sale were $230,296. XXII recently moved from the NYSE to NASDAQ. As of June 30, 2022 XXII is a common shareholder of the Company.