RELATED PARTY TRANSACTIONS

9 Months Ended

Sep. 30, 2020

NOTE 2 – RELATED PARTY TRANSACTIONS

The Company previously occupied a portion of the offices leased by BKF Capital Group, Inc., on a month to month basis for a rental fee of $50 per month that was intended to cover administrative costs. Steven N. Bronson, the Company's Chairman, CEO, and majority shareholder, is also the Chairman, CEO and majority shareholder of BKF Capital Group, Inc. Effective June 30, 2019, the Company terminated this arrangement with BKF Capital Group, Inc., and leased an administrative office from an unrelated party on a month-to-month basis for a minimum of $10 per month. Additional charges, if any, are based upon services provided by the lessor.

At both September 30, 2020 and December 31, 2019, we owed BKF $2,800 for this previous arrangement. There were no payments made to BKF during the nine months ended September 30, 2020.

Steven N. Bronson, the Company's Chairman, President, CEO, and majority shareholder has loaned the Company money to fund working capital needs to pay operating expenses. The loans are repayable upon demand and accrue interest at the rate of 10% per annum and are unsecured. During the nine months ended September 30, 2020 and September 30, 2019, the Company borrowed the following amounts under the Note:


	Principal		Interest

Balance January 1, 2020	$	205,161	$	64,207

Additions		40,000		17,111
Cash Payments		—		—
Balance September 30, 2020	$	245,161	$	81,318

Balance January 1, 2019	$	169,450	$	45,181

Additions		28,000		14,002
Cash Payments		—		—
Balance September 30, 2019	$	197,450	$	59,183