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NOTE 6 - RELATED PARTY TRANSACTIONS
12 Months Ended
Dec. 31, 2018
Related Party Transactions [Abstract]  
NOTE 6 - RELATED PARTY TRANSACTIONS

NOTE 6 - RELATED PARTY TRANSACTIONS 

 

On May 16, 2011, the Company transferred, through a spin-off to its then wholly owned subsidiary, Worlds Online Inc., now called MariMed Inc., the majority of its operations and related operational assets. The Company retained its patent portfolio which it intends to continue to increase and to more aggressively enforce against alleged infringers. The Company also entered into a License Agreement with MariMed Inc. to sublicense its patented technologies.

 

Due from related party represents payments for operating expenses made by Worlds Inc. on behalf of MariMed Inc. for the years ended December 31, 2017. The due from related party balance at December 31, 2018 is $0 and at December 31, 2017 the balance is $15,998. The balance in the accrued expense attributable to related parties is $329,624 and $871,463 at December 31, 2018 and 2017, respectively.