Note
19 – Related party transactions
The
Company had outstanding liabilities for related party loans, which were due on demand, as follows at December 31, 2022 and 2021:
Schedule
of outstanding liabilities for related party transaction
| |
2022 | | |
2021 | |
Loan from WCI officer, including interest of $350 and $1,600 at February 15, 2022 and December 31, 2021, respectively. The note was fully paid off on February 15, 2022. The note bore interest at 8% per annum and was due on demand. | |
$ | - | | |
$ | 21,600 | |
| |
| | | |
| | |
Loans from Mentor CEO, including interest of $17,380 and $10,644 at December 1, 2022 and December 31, 2021, respectively. The notes were fully paid off on December 1, 2022. The notes bore interest at 7.6% per annum compounded quarterly and were due within thirty days of demand. | |
$ | - | | |
| 210,644 | |
| |
$ | - | | |
$ | 232,244 | |
Mentor
Capital, Inc.
Notes
to Consolidated Financial Statements
December
31, 2022 and 2021
|