NOTE 3 RELATED PARTY TRANSACTIONS	12 Months Ended
Dec. 31, 2019
Notes
NOTE 3 RELATED PARTY TRANSACTIONS	NOTE 3 - RELATED PARTY TRANSACTIONS Management Compensation - For the years ended December 2019 and 2018, the Company did not pay any compensation to its officers and directors. Office Space – Beginning August 2017, the Company entered into an oral agreement to pay the Company’s President $500 per month as payment for use of his personal residence as the Company’s office and mailing address. The Company has recorded rent expense of $6,000 and $6,000 during the years ended December 31, 2019 and 2018, respectively, which is included in the general and administrative expenses on the statements of operations. The amount payable at December 31, 2018 was $1,500. During the year ended December 31. 2019, the Company paid $6,000, resulting in $1,500 payable at December 31, 2019. Notes Payable - In December 2014, the Company borrowed $25,000 from the majority stockholder of the Company pursuant to an unsecured promissory note, which was due on demand and accrued interest at 12% per annum. On March 9, 2018 the Company paid the outstanding principal amount of $25,000 and accrued interest of $8,250. BIOETHICS, LTD. NOTES TO FINANCIAL STATEMENTS December 31, 2019 Notes Payable - In December 2017, the Company borrowed $107,000 from its President pursuant to an unsecured promissory note. On various dates during and 2019 and 2018, the officer advanced the Company an additional $11,000 and $5,670, respectively, and the Company made payments of $14,686 and $0, respectively, on the principal amount of the note resulting in total note balances of $108,984 and $112,670 at December 31, 2019 and 2018, respectively. The cumulative note balance is uncollateralized, due on demand, and accrues interest at 12% per annum. Interest expense on the note for the years ended December 31, 2019 and 2018 was $12,473 and $13,177, respectively. During the year ended 2019, interest in the amount of $15,314 was paid on the note. Accrued interest on the note totaled $6,004 and $8,845 at December 31, 2019 and 2018, respectively. Notes Payable - On March 8, 2018 the Company entered into a promissory note with a newly-affiliated party in the amount of $43,250. The note is payable on demand and carries interest at 10% per annum. Accrued interest and interest expense as of and for the year ended December 31, 2019 was $6,285, and $2,825, respectively. Principal balance on the note at December 31, 2019 and 2018 was $43,250 and $43,250, respectively.

NOTE 3 RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2019

NOTE 3 - RELATED PARTY TRANSACTIONS

Management Compensation - For the years ended December 2019 and 2018, the Company did not pay any compensation to its officers and directors.

Office Space – Beginning August 2017, the Company entered into an oral agreement to pay the Company’s President $500 per month as payment for use of his personal residence as the Company’s office and mailing address. The Company has recorded rent expense of $6,000 and $6,000 during the years ended December 31, 2019 and 2018, respectively, which is included in the general and administrative expenses on the statements of operations. The amount payable at December 31, 2018 was $1,500. During the year ended December 31. 2019, the Company paid $6,000, resulting in $1,500 payable at December 31, 2019.

Notes Payable - In December 2014, the Company borrowed $25,000 from the majority stockholder of the Company pursuant to an unsecured promissory note, which was due on demand and accrued interest at 12% per annum. On March 9, 2018 the Company paid the outstanding principal amount of $25,000 and accrued interest of $8,250.

BIOETHICS, LTD.

NOTES TO FINANCIAL STATEMENTS

December 31, 2019

Notes Payable - In December 2017, the Company borrowed $107,000 from its President pursuant to an unsecured promissory note. On various dates during and 2019 and 2018, the officer advanced the Company an additional $11,000 and $5,670, respectively, and the Company made payments of $14,686 and $0, respectively, on the principal amount of the note resulting in total note balances of $108,984 and $112,670 at December 31, 2019 and 2018, respectively. The cumulative note balance is uncollateralized, due on demand, and accrues interest at 12% per annum. Interest expense on the note for the years ended December 31, 2019 and 2018 was $12,473 and $13,177, respectively. During the year ended 2019, interest in the amount of $15,314 was paid on the note. Accrued interest on the note totaled $6,004 and $8,845 at December 31, 2019 and 2018, respectively.

Notes Payable - On March 8, 2018 the Company entered into a promissory note with a newly-affiliated party in the amount of $43,250. The note is payable on demand and carries interest at 10% per annum. Accrued interest and interest expense as of and for the year ended December 31, 2019 was $6,285, and $2,825, respectively. Principal balance on the note at December 31, 2019 and 2018 was $43,250 and $43,250, respectively.