Quarterly report pursuant to Section 13 or 15(d)

Related Party

v3.21.2
Related Party
6 Months Ended
Jun. 30, 2021
Related Party  
Note 8. Related Party

Note 8 - Related Party

 

During the period ended June 30, 2021, the Company recorded consulting expense of $250,000 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 June 30, 2020.