RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2022

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 7 - RELATED PARTY TRANSACTIONS

During the year ended December 31, 2022, as consideration for the IP in the Asset Purchase Agreement between the Company and Mr. Kidrin, Mr. Kidrin was granted 15,000,000 options at an exercise price of $0.07 per share for three years. 

During the year ended December 31, 2021, the Company issued 297,673 shares of common stock to Chris Ryan, our CFO as settlement of amounts previously recorded. The value of the shares on the date of issuance was $70,810. The Company recorded a loss of $8,685 on the issuance of the shares.

During the year ended December 31, 2021, the Company recorded a gain on forgiveness of accounts payable related party due to the Company’s CFO in the amount of $16,401.

The Company paid to the CFO, Chris Ryan, $9,000 over the year ended December 31, 2021, and $0 for the year ended December 31, 2022.

The balance in the accrued expense attributable to related parties is $53,688 and $33,899 at December 31, 2022 and December 31, 2021, respectively. 

See note 11 for a discussion on the convertible note receivable from the related party.