Quarterly report pursuant to Section 13 or 15(d)

RELATED PARTY TRANSACTIONS

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RELATED PARTY TRANSACTIONS
6 Months Ended
Jun. 30, 2021
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 13 – RELATED PARTY TRANSACTIONS

 

Notes payable and accrued interest, related parties

 

Related parties accrued interest due to certain related parties are as follows:

    June 30, 2021     December 31, 2020  
    (Unaudited)        
Short term notes   $ 155,000     $ 155,000  
Accrued interest     71,100       53,100  

Total short-term notes and accrued interest - Related parties

  $ 226,100     $ 208,100  

 

On January 6, 2021, the Company signed a $10,000 short-term note payable to the CEO. The note accrued interest at 8% interest per annum, with a $250 minimum interest to be paid. The loan and interest due was paid back within the first quarter, and $250 was recorded as interest expense.