RELATED PARTY NOTES PAYBALE

6 Months Ended

Jun. 30, 2022

Related Party Transactions [Abstract]

RELATED PARTY NOTES PAYBALE

NOTE 2 – RELATED PARTY NOTES PAYBALE

On May 17, 2021, the Company entered into an agreement to borrow funds from the 481149 Irrevocable Trust, a related party, that controls all of the currently outstanding preferred stock of the Company, and whose trustee is the Chief Executive Officer of the Company and a member of the board of directors. Pursuant to the agreement, the Company borrowed approximately $501,000 with interest at 6% per annum due and payable on May 17, 2022. As of June 30, 2022, accrued interest is approximately $34,000 and the principal balance $501,000.