Notes payable, related party

9 Months Ended

Sep. 30, 2022

Notes payable, related party [Abstract]

Notes payable, related party

13. Notes payable, related party

As of September 30, 2022 and December 31, 2021, the balance of the notes payable, related party was $200 and $25,200. The notes are outlined in the following table:

	September 30,		December  31,
	2022		2021
Notes payable, related party
$10,000, issued January 5, 2011, no coupon, due on demand	$	-	$	10,000
$15,000, issued October 7, 2016, no coupon, due on demand		-		15,000
$10,100, issued December 10, 2020, no coupon, due on demand		200		200
Total long-term notes payable, related party	$	200	$	25,200

On July 1, 2022, the Company entered into an agreement whereby the Company agreed to issue 362,000 shares of common stock in satisfaction of $25,000 in notes payable, related party and $271,839 in accounts payable, related party. As a result of this transaction, the Company recorded loss on extinguishment in the amount of $264,261.