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RELATED PARTY
9 Months Ended
Sep. 30, 2020
RELATED PARTY  
RELATED PARTY

NOTE 8 – RELATED PARTY

In February of 2019, the Company engaged Carmel, Milazzo & Feil LLP (the "Firm") to represent and assist the company with all general corporate legal matters including the preparation and filing with the Securities and Exchange Commission of a registration statement on Form S‑1 through the Company’s intended initial public offering. Ross Carmel, a board member of Applied UV, is a partner at the firm. The firm will perform services in exchange for three percent of the outstanding shares of the Company’s common stock, issued as follows: 1.) One percent due upon execution of the agreement 2.) One percent due up the filing of the Form S‑1; and 3.) One percent due upon the SEC declaring the Form S‑1 effective. As of September 30, 2020 and December 31, 2019, the company was liable to issue 102,066 shares of common stock to the firm. These shares have previously not been issued and have been recorded as a liability to be settled in stock for an amount of $507,805 as of December 31, 2019, however, the shares were subsequently issued in June of 2020, and the liability has been reclassed to additional paid in capital. Pursuant to the offering in August of 2020, the company issued an additional 59,728 common shares to the firm. The amount of $298,640 was recorded to additional paid in capital with a net effect of nill as the shares were issued in connection with the offering.