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Advances – Related Parties
12 Months Ended
Dec. 31, 2022
Related Party Transactions [Abstract]  
Advances – Related Parties

Note 6 – Advances – Related Parties

 

Advances – related parties and related terms were as follows:

  

   Advances 
Terms  Related Parties 
     
Issuance date of advances   Prior to 2018 
Maturity date   Due on Demand 
Interest rate   0%
Collateral   Unsecured 
      
Balance - December 31, 2020  $142,934 
Conversion of stockholder advances to notes payable - related parties   (74,920)
Balance - December 31, 2021   68,014 
Proceeds   3,500 
Conversion of stockholder advances to notes payable - related parties (see Note 4)    (51,769)
Subscription receivable - warrants   (16,245)
Balance - December 31, 2022  $3,500 

 

During 2022, in connection with a settlement, the Company reduced amounts owed to a stockholder for $16,245 with a corresponding reduction to a subscription receivable for warrants.