Quarterly report pursuant to Section 13 or 15(d)

Related Party

Related Party
9 Months Ended
Sep. 30, 2021
Related Party  
Note 9. Related Party

Note 9 – Related Party


During the period ended September 30, 2021, the Company recorded consulting expense of $350,000 for services rendered by a consultant who is also an owner of approximately 10% of the Company’s issued and outstanding common stock. In addition, the Company also issued a note payable to this consultant of $525,000 in exchange for the cancellation of unpaid consulting fees of $525,000 that was recorded as part of accrued expenses at December 31, 2020. There was no similar consulting expense incurred during the period ended September 30, 2020.