Related Party Transactions

6 Months Ended

Jun. 30, 2024

Related Party Transactions [Abstract]

Related Party Transactions

NOTE 5 – Related Party Transactions

During the six months ended June 30, 2024, a director of the Company paid one invoice of the Company in the amount of $700. This amount will not be reimbursed to the director and is included in additional paid in capital at June 30, 2024.  During the six months ended June 30, 2023 two (2) of the board of directors paid all expenses of the Company in the amount of $30,760.  The Company advanced to the director who pays the operating expenses 6,904,761 shares of common stock valued $29,000 based upon the closing price of $0.0042 at date of issuance to reimburse and prepay the director of his out of pocket costs paid on behalf of the Company.

The Company has a consulting agreement with a majority shareholder/board of director.  The agreement is for $1,000 monthly.  Consulting expense for each of the three and six months ended June 30, 2024 and 2023 was $3,000 and $6,000, respectively.

The Company entered into a compensation agreement beginning January 1, 2023 and ending on December 31, 2028 in the amount of $95,000 annually, payable in common stock with its Board Chairman. This contract was terminated in October 2023 and a new contract has yet to be agreed upon. An additional contract was approved for the Company’s Chief Financial Officer and Secretary for a three (3) year term effective January 1, 2023, in the amount of $75,000 annually to be paid in shares and/or cash. Board of directors compensation for the three and six months ended June 30, 2024 and 2023, was $0 and $75,000 (2023: $170,000), respectively.

The Company entered into an agreement with the officer of LOOT8 for $12,500 monthly of which $10,000 will be paid monthly and $2,500 will be deferred until the Company’s financial health is projected to support full payment. Board of director compensation for the three and six months ended June 30, 2024 was $37,500 and $62,500, respectively.